Economist, Former HUD Policy Advisor Joins Freddie Mac Board of Governors

Real estate economist and former HUD policy advisor Raphael W. Bostic has been elected as a director on Freddie Mac's board of governors, according to an announcement from the GSE.

Bostic, 48, brings extensive expertise in public policy, academic, and research to his position on the Freddie Mac board of governors. From 2009 to 2012, Bostic served as Assistant Secretary for Policy Development and Research with the U.S. Department of Housing and Urban Development (HUD), a position that required Senate confirmation. In that position, Bostic was a principal advisor on policy and research to the HUD Secretary.

"We are very pleased that Raphael is joining the Freddie Mac Board of Directors," said Christopher S. Lynch, Freddie Mac's non-executive chairman. "He is an expert on housing policy with a deep understanding of housing finance, as well as community and economic development. We anticipate that Raphael will bring valuable insights to the board during a critical time for the national housing finance industry."

Prior to joining HUD, Bostic worked in various positions at the University of Southern California from 2001 to 2009. After leaving HUD in 2012, Bostic rejoined USC as Bedrosian Chair in Governance and Public Enterprise at the Sol Price School of Public Policy. He has a bachelor's degree from Harvard and a doctorate in economics from Stanford University.