Former PNC Mortgage President Elected to Freddie Mac Board

Saiyid T. Naqvi, former PNC Mortgage president and CEO, has been elected as a director on ""Freddie Mac's"":http://www.freddiemac.com/ board, the company announced.

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Naqvi led PNC Mortgage Corporation of America between 1995 and 2001, when PNC Financial Services Group sold off its mortgage business. He returned in 2009 to supervise the bank's integration of National City Mortgage and to head the newly constituted PNC Mortgage. There, he was responsible for the management of the company's $121 billion portfolio and its national network of 91 retail mortgage offices.

He has also served on the corporate boards of Genworth Financial and Hanover Capital Mortgage Holdings.

""Sy is a significant and timely addition to the Freddie Mac Board of Directors,"" said Christopher S. Lynch, Freddie Mac's non-executive chairman. ""He has a national reputation as a seasoned financial executive with proven leadership experience and detailed knowledge of mortgage and consumer financial operations.

""Sy brings to the board a deep background in risk and operational management that will help ensure Freddie Mac continues its important work in keeping the U.S. mortgage market strong,"" he added.