Freddie Mac is about to appoint Donald Layton, a former executive for E*Trade Financial Corp., its new chief executive officer, the Wall Street Journal reported Tuesday.

The WSJ cited people familiar with the matter as saying the company will announce Layton as its new CEO by Thursday.

This is not the first time Layton's name has been thrown around in relation to the search for a new chief executive at Freddie. However, it is the first report alleging the selection is definitive and merely waiting for the company to make it official.