Business Strong, Progress Underway on Remediation, Says CEO Syron

Despite pressures of a housing slowdown, concerns about deteriorating credit and some who are questioning the GSEs' future role in the housing market, Freddie Mac is meeting its mission and maintaining the momentum of its business.

"With housing so sensitive to mortgage rates and the economy so sensitive to housing, our company's role is more vital than ever," explained Chairman and CEO Richard F. Syron in his remarks at the Lehman Brothers Financial Services Conference in New York on September 12, 2006.

According to Syron, Freddie Mac has taken important steps to reduce regulatory uncertainty and is "fiercely focused" on completing its accounting and internal controls remediation.