THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT NAMES HARRIETT WOODS TO BOARD OF FEDERAL HOME LOAN MORTGAGE CORPORATION
The President today announced his intention to appoint Harriett Woods of Missouri to be a member of the Board of Directors of the Federal Home Loan Mortgage Corporation.
Woods is the president of the National Women's Political Caucus. She served as the Lieutenant Governor of Missouri from 1985 to 1989 and was the first woman ever elected to statewide office in Missouri. As Lieutenant Governor, Woods created a statewide task force on homelessness and has been a leader on the issue of affordable housing. In addition, she created an institute at the University of Missouri, St. Louis, which channeled community efforts into a Regional Housing Alliance. Today, the Regional Housing Alliance sponsors lease-purchase housing for low-income working families.
The Federal Home Loan Mortgage Corporation (Freddie Mac) is a stockholder-owned corporation chartered by Congress in 1970 which supports home ownership and rental housing through the creation and development of a secondary market for residential mortgages. This includes activities related to mortgages for low and moderate-income families. Freddie Mac accomplishes its goals by providing a continuous flow of funds to mortgage lenders.