On May 20, 2022, Donna Corley, Executive Vice President, Head of Single-Family Business, notified Freddie Mac (formally the Federal Home Loan Mortgage Corporation) that she will be stepping down from her position as head of Freddie Mac's Single-Family Business. She and Freddie Mac have agreed to a transition period that will end on November 25, 2022, during which time she will be Executive Vice President, Special Advisor, reporting to Michael Hutchins, President. The company will commence an internal and external search for a replacement for Ms. Corley.

To ensure continuity during the search period, in addition to his oversight responsibilities for the company's Single-Family, Multifamily, Investments and Capital Markets, and Enterprise Operations and Technology divisions, Mr. Hutchins will take on active management responsibilities for the Single-Family division until Ms. Corley's successor is identified. There has been no change in Mr. Hutchins's compensation in connection with this appointment.