Letter from Richard F. Syron, Freddie Mac Chairman and CEO
As a government-sponsored enterprise with an important public mission to make
housing finance more accessible and affordable, Freddie Mac is unique. We have
special responsibilities to the American people. It's incumbent upon us to carry
out these responsibilities to the best of our abilities.
We owe no less to our customers, investors, debt holders and others who have
a stake in the company's mission and success. But more importantly, we owe this
to the millions of families across the country who rely on us to provide them
with affordable mortgages so they can make the dream of homeownership a reality.
Like so many of you, I am also a homeowner, as were my parents. I grew up in
Boston in a two-family home financed by a VA loan that my father was able to
get when he returned from World War II. I want to make sure that people like
my parents continue to be able to fulfill their dreams of becoming homeowners
and that people across America who want a home can own one.
But the benefits of homeownership go beyond owning a home. Homeownership allows
families to build wealth. Kids whose parents own homes do better in school.
Neighborhoods of homeowners are safer. And in recent years, housing has been
the backbone of our nation's economy, accounting for more than a third of the
growth in nominal GDP. These are real benefits that Freddie Mac brings to the
nation.
It is a great privilege for me to be leading this company into a new stage
of its existence, one characterized by responsibility, accountability and a
strengthening of the full confidence of the public and regulators. I'm committed
to operating this company with absolute integrity, strong governance, sound
controls and transparent reporting. And I will do so while maintaining a strong
focus on our mission and commitment to affordable and minority housing.
Freddie Mac plays a critical role in financing homes for America's families
and providing strength and resiliency to America's economy. I aspire to no greater
legacy than to build public trust in an institution chartered by Congress to
ensure the stability, liquidity and accessibility of the nation's mortgage markets.
Sincerely,
Richard F. Syron
Chairman and CEO
Freddie Mac
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