Freddie Mac has recently announced the appointments of four new vice presidents to help the company develop new strategies in areas ranging from business strategy to servicer relations.
Saber Salam has been appointed vice president of business strategy, research and development. He will oversee Freddie Mac's expanding markets group activities, while developing and managing research and analysis on market trends and customer needs. Salam comes to the company from Norwest Mortgage Inc., where he served as senior vice president of institutional lending.
According to Pat Sheehy, Freddie Mac's senior vice president of marketing, sales and production, Salam was chosen for the position based on his "ability to analyze the market trends and create innovative solutions for customers."
Within the business strategy unit, Kim Petty, Freddie Mac's former director of the credit risk oversight unit, will become the vice president of strategy integration. Petty will be responsible for the corporate-wide coordination of necessary resources and expertise to optimize Freddie Mac's performance within its core businesses.
Also in the business strategy unit, Joel T. Van Rycheghen has been named senior vice president of customer capabilities. He is leaving Charter One Mortgage, where he served as executive vice president and chief operating officer. For Freddie Mac, Van Rycheghen will help develop an enhanced value proposition for the government-sponsored enterprise's customers, to achieve the company's goal of understanding lenders from their point of view.
In the servicer division, Marcia Davies was appointed to the position of vice president, servicer relations and policy management. In this position, Davies will be key in the overall management and performance of 2,300 mortgage servicers managing the company's $765 billion single-family loan portfolio.
She will be responsible for developing business, performance and marketing strategies that will enhance shareholder value by improving servicer performance and reducing loan management costs. Davies recently served in Freddie Mac's servicer division as director of customer relations and communications, where she managed overall relationship with servicers.
Davies' abilities, experience, and broad understanding of Freddie Mac are critical to the government-sponsored enterprise's goal of adding shareholder value and fulfilling the mission of helping more families succeed as long-term homeowners, said Margaret A. Colon, senior vice president of the servicer division.