An elegant charter
Patricia Cook has taken on the role of chief business officer at Freddie Mac as the mortgage agency faces its biggest challenge for the past 15 years, and perhaps its biggest opportunity. Here she talks exclusively about Freddie's strategy in the current volatile markets, why subprime turmoil presents an opportunity to fulfil the company's mission and create value for shareholders, and why leverage will be out of fashion for a long time to come
You've recently become chief business officer at Freddie Mac. Could you talk us through your new role?
I tell people that I have the best job at Freddie Mac.
I manage all of Freddie's business activities. When I first got here I took over the management of the retained portfolio: purchases of assets, the funding of those assets and then the ongoing asset-liability management.
I'm now also responsible for single family and multi-family sourcing. And our team dedicated to thinking about how we
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