Freddie Mac Names Interim CEO 

Michael T. Hutchins, Interim CEO, Freddie Mac

Freddie Mac has announced the appointment of President Michael T. Hutchins to the additional role of Interim CEO as the company continues its search for a permanent CEO. Hutchins will also become a member of Freddie Mac’s Board of Directors. 

Hutchins was named President of the GSE in 2020, and is a member of the company’s Senior Operating Committee. He will continue serving as President, and will took on the role of Interim CEO and Board member effective March 16, following the departure of CEO Michael J. DeVito, who stepped down on March 15. 

“Mike Hutchins is a proven leader who brings a deep understanding of every aspect of Freddie Mac to the role of Interim CEO,” said Lance Drummond, non-executive Chair of Freddie Mac’s Board of Directors. “In addition to his knowledge of Freddie Mac, Mike’s decades of experience in housing and financial services is invaluable as the company navigates a challenging market to Make Home Possible for borrowers and renters across the nation.” 

Hutchins has worked in the financial services industry for more than 30 years. He began his career at Freddie Mac in 2013, serving as SVP and then EVP of Investments and Capital Markets. In 2020, he was named President of Freddie Mac, overseeing the company’s Single-Family, Multifamily, Investments & Capital Markets and Enterprise Operations & Technology divisions. Previously, Hutchins was co-founder and CEO of PrinceRidge, and held senior positions at UBS and Salomon Brothers. 

“I thank Mike for stepping up to lead the company as we continue a thorough search for a permanent CEO,” Drummond added. “I also want to thank outgoing CEO Michael DeVito for his commitment to Freddie Mac’s mission, and we wish him well in his next chapter.” 

Share this post :

Picture of Eric C. Peck

Eric C. Peck

MortgagePoint Managing Digital Editor Eric C. Peck has 25-plus years’ experience covering the mortgage industry. He graduated from the New York Institute of Technology, where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career in New York City with Videography Magazine before landing in the mortgage finance space. Peck has edited three published books, and has served as Copy Editor for
Latest News

Unleash the Power of Knowledge

Stay in the know with our suite of email blasts
Receive the latest news

Gain Access to Exclusive Mortgage Knowledge!

Stay at the forefront of industry developments! By subscribing to MortgagePoint, you’re aligning yourself with the latest insights, updates and exclusive promotions in the mortgage industry. As an industry professional, it’s critical to stay informed and up-to-date. Don’t miss out – subscribe now!