Jane E. Prokop Joins Freddie Mac's Board of Directors
McLean, Tuesday, 7 January 2025.
Freddie Mac appoints Jane E. Prokop, with nearly 30 years in financial services, to its board, enhancing its leadership amid evolving mortgage market challenges.
Strategic Appointment at Critical Time
Freddie Mac (OTCQB: FMCC) has strengthened its board with the election of Jane E. Prokop, Ph.D., effective January 2, 2025 [1]. This appointment comes at a time of significant leadership changes for the mortgage giant, which also recently named James Whitlinger as its new Chief Financial Officer [2]. Prokop brings extensive expertise in fintech, product development, and business financing, currently serving as Executive Vice President and Global Head of Small and Medium Enterprises at Mastercard Incorporated [1].
Impressive Track Record in Financial Services
Prokop’s appointment leverages her extensive leadership experience, including her role as CEO of Principis Capital from 2009 to 2021 [1]. Her diverse background encompasses strategic positions at several financial institutions, including serving as Chief Strategy Officer for Northern Leasing Systems and Executive Vice President of Strategy and Planning at MortgageIT [1]. The appointment has been welcomed by Lance Drummond, Chair of Freddie Mac’s Board of Directors, who emphasized the value of Prokop’s strategic insights and financial technology expertise [1].
Strengthening Corporate Governance
This board appointment reflects a broader trend of strengthening corporate governance in the financial sector [GPT]. With her Harvard University Ph.D. and comprehensive experience in residential mortgage banking through her tenure at MortgageIT from 2002 to 2007 [1], Prokop is well-positioned to contribute to Freddie Mac’s mission of promoting liquidity, stability, affordability, and equity in the housing market [1].
Looking Ahead
The appointment comes as Freddie Mac continues to evolve its leadership structure, demonstrated by the concurrent appointment of James Whitlinger as CFO, who brings over three decades of financial management experience to his role [2]. These strategic appointments position Freddie Mac to address future challenges in the mortgage market while maintaining its commitment to supporting homeownership across the nation [1][2].