Carl Riedy, the leader of the Federal Home Loan Mortgage Corp.s' efforts in low-income housing, plans to resign early next month to return to his previous employer, First Boston Corp.
Mr. Riedy, who joined Freddie Mac just a year and a half ago, said he's leaving for "an unparalleled opportunity" overseeing First Boston's governmental relations. He will head a new office in Washington.
His resignation comes as Freddie Mac is under heavy pressure to boost its support of lower-income housing through purchases of mortgages and other activities.
The agency vowed to "move quickly to fill this vital position." In the meantime, Dwight Robinson, an affordable-housing official under Mr. Riedy, will serve as acting vice president of the area.
Leland C. Brendsel, Freddie Mac's chairman, said the agency is sad to see Mr. Riedy go.
"He has done an outstanding job of helping Freddie Mac define, develop, and implement its affordable-housing goals."
Mr. riedy, 43, said the First Boston post, which bears the title of director, appealed to him "in both a personal sense and a financial sense." But he declined to specify either his current or future compensation.
In his previous stint at First Boston, Mr. Riedy was a vice president of public finance and worked at the firm's New York headquarters. Before that, he was executive vice president of the National Council of State Housing Agencies.