Freddie Mac mortgage investment chief resigns
Peter Federico, an executive vice president at Freddie Mac, is leaving the government-sponsored enterprise, according to a laconic Securities and Exchange Commission filing from this morning. "Peter J. Federico, Executive Vice President - Investments and Capital Markets and Treasurer of Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) informed Freddie Mac that he will resign from his position effective May 15, 2011," reads the entire text of the filing. According to a FTN Financial note to clients Tuesday morning, Federico was a key manager through the firm's transition to a GSE, staying on after many others left. "Most of the GSE personnel of Federico's caliber have found solid positions in the industry, and a new job is the most likely reason for the resignation," wrote FTN analyst Jim Vogel. Federico is a Freddie veteran who joined in 1988. According to Freddie Mac, Federico moved into his current post in October. As executive vice president, Federico is responsible for managing all of Freddie Mac's investment activities for the mortgage-related portfolio. Write to Jacob Gaffney. Follow him on Twitter @JacobGaffney.