Freddie Mac has promoted Paul T. Peterson to senior vice president of business strategy.

Mr. Peterson was responsible for managing Freddie's mortgage loan servicing business as senior vice president of the servicer division.

He also directed Freddie's corporate finance division, managing Freddie's retained portfolio of mortgage loans, and concentrated on general funding issues. He joined Freddie Mac in 1989 as a director of portfolio management.

In his new job he will report to David W. Glenn, president of the company.

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