GARY KAIN

Senior Vice President
Investments & Capital Markets

Senior Vice President Gary Kain was appointed head of the Investments & Capital Markets Division in May 2008. Kain is a member of the company’s leadership team and reports directly to CEO David M. Moffett. In this position, he is responsible for reviewing and ensuring the optimal financing of our investments and the management of interest rate risk.

Kain served as senior vice president of mortgage investments & structuring from February 2005 to April 2008. Kain's group was responsible for managing all of Freddie Mac's mortgage investment activities for the retained portfolio and all credit pricing decisions for both the single family and multifamily businesses. Retained portfolio activities include both purchases and sales of agency and private-label mortgage-backed securities, as well as mortgage structuring activity designed to optimize retained cash flows. Single Family credit pricing responsibilities included both the flow and bulk channels.

Kain formerly served as head trader in Freddie Mac's Securities Sales & Trading Group, where he was responsible for managing all trading decisions including REMIC structuring and underwriting, hedging all mortgage positions, income generation, and risk management. Prior to his promotion to head trader in 1995, Kain served as a senior trader, responsible for managing the adjustable-rate mortgage and REMIC sectors.

Kain joined Freddie Mac in 1988 as an analyst in the Financial Research Department, where he was responsible for developing complex financial models used in the valuation of mortgage cashflows. Before joining Freddie Mac, Kain held positions as an electrical engineer at the John Hopkins Applied Physics Laboratory in Laurel, Md.; the Locus Corporation in Alexandria, Va.; and the U.S. Department of the Navy.

Kain holds a B.S. in electrical engineering from the University of Pennsylvania.

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. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

09/08