THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES JOEL I. FERGUSON AS A MEMBER OF THE BOARD
OF DIRECTORS OF THE FEDERAL HOME LOAN MORTGAGE CORPORATION
President Clinton announced yesterday his intent to appoint Joel I. Ferguson of Michigan as a member of the Board of Directors of the Federal Home Loan Mortgage Corporation.
Mr. Ferguson is president and co-owner of F & S Development Company of Lansing, Michigan, which is a developer of multi-family residential complexes. Additionally, Mr. Ferguson is co-owner of First Housing Corporation, a real estate management firm; owner and president of WLAJ, ABC-TV in Lansing; and an organizer and member of the board of directors of Capitol National Bank. He was development director of Mid-West Urban Construction Company and director of the Greater Lansing Urban League On the Job Training program. Mr. Ferguson is a life member of the NAACP and has served in a number of capacities in local civic organizations. He has served on the Lansing City Council, the County Board of Commissioners and the Michigan State University Board of Trustees. Mr. Ferguson earned a B.A. in elementary education from Michigan State University and served in the U.S. Marine Corps.
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. Freddie Mac includes activities related to mortgages for low and moderate-income families and accomplishes its goals by providing a continuous flow of funds to mortgage lenders.