MCLEAN, VA--(Marketwired - Apr 10, 2013) - [ Freddie Mac ] (OTCQB: [ FMCC ]) today announced that David B. Lowman, a long-time senior leader in the mortgage finance industry, is joining the company effective May 20^th, as the executive vice president for the Single-Family Business.

Lowman, 55, brings significant leadership and mortgage experience to his new role, having run some of the nation's largest mortgage operations. At Freddie Mac, he will have broad responsibility for the Single-Family line of business, including managing the company's relationships with its Seller/Servicers, the performance of Freddie Mac's guarantee book of business, and all sourcing, servicing and business operations. Lowman will report directly to CEO Donald H. Layton.

"We are extremely pleased that Dave will be joining us. He has spent more than three decades in the mortgage business, has broad experience in virtually all aspects of mortgage finance, and already has well established relationships with many of our customers," Layton said. "He is a smart, highly effective executive and I am confident that he will make a major contribution to Freddie Mac as we continue to improve how we serve our customers and support the nation's housing recovery."

Lowman served as CEO of Chase Home Lending from 2006 to 2011, overseeing $150 billion in annual production and a $1.2 trillion servicing portfolio at what was then the country's third largest mortgage originator and servicer. Prior to that, he spent a decade in senior leadership roles in various lending businesses of Citigroup, including head of CitiMortgage and Citicorp Trust Bank, FSB.

Before joining Citigroup, Lowman spent 11 years at The Prudential Home Mortgage Company, Inc. in progressively senior leadership roles. He started his career in the Washington D.C. office of KPMG where his clients included banks, thrifts and mortgage bankers.

Lowman holds a Bachelor of Science degree in Business Management and Accounting from the University of Maryland's College of Business and Management.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. [ www.FreddieMac.com ]. Twitter:[ @FreddieMac ]