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Looking back, the housing industry is totally Scrooged

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Pair of VPs Out at Freddie Mac

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Ingrid Beckles, senior vice president of default asset management, and Mike Perlman, executive vice president of operations and technology, left the mortgage giant Freddie Mac (FRE) this week, according to a source knowledgeable of the situation. Beckles joined Freddie in 2001 and oversaw operations of the company’s nonperforming loan servicing, REO and property disposition, default, fees and claims, and collateral enhancement departments, according to her biography page on the Freddie Mac website. Freddie hired Perlman from Morgan Stanley in 2007. Before leaving Freddie, he was responsible for managing the largest segment of Freddie’s business operations, including the company’s origination and servicing, investment and capital markets operations, according to his bio page. Last week, the Federal Housing Finance Agency (FHFA) directed Freddie Mac and Fannie Mae to de-list their common stock and preferred stock from the New York Stock Exchange (NYSE). Their stock prices hovered around $1 for most months since FHFA assumed its conservatorship of the companies in September 2008. Freddie reported losing $6.7bn in Q110, up slightly from $6.5bn in the previous quarter. The company also requested $10.6bn in aid from the Treasury Department to cover a $10.5bn deficit. According to that Q110 report, Freddie held $9.8bn in REO inventory. Write to Jon Prior.

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