Freddie Mac names ex-Putnam head Haldeman as CEO

WASHINGTON/NEW YORK (Reuters) - Freddie Mac FRE.P, the U.S. home mortgage financing company that is struggling to extricate itself from crippling losses, on Tuesday said it named the former head of Putnam Investments, Charles "Ed" Haldeman, as its chief executive officer.

Haldeman is credited with restoring the mutual fund firm's standing with regulators after a series of trading scandals. He stepped down as the head of Putnam in late June after a seven-year term,

Haldeman said one his top priorities will be to support President Barack Obama's plan to increase modifications and refinancings on loans in danger of default.

"We need to do everything we can to ensure that program is a success, and keep as many families in their homes as possible," he said in an interview.

Haldeman, 60, said he would also focus on rebuilding a management team that has been plagued by departures since the government in September seized control of company and rival Fannie Mae FNM.P to avert collapse caused by the housing slum. He said he will consider internal and outside candidates for open posts, which include chief financial and operating officers.

"I understand fully that this is not a typical CEO kind of job," said Haldeman, who noted that he met with Treasury and government housing officials before taking the job. "It's one that will be out in the public arena and that means that there will be extra scrutiny. I have been in that role before."

Freddie Mac has been without a permanent CEO since David Moffett quit in March after six months on the job, as the company shifted its focus from shareholder profits to stabilizing housing.

Freddie Mac is acting as a main conduit for government programs to provide more credit to American homeowners.

John Koskinen, who has been serving as interim chief executive officer of Freddie, will resume his previous role as non-executive chairman of the board.

Freddie Mac and rival Fannie Mae have added to their dominance as the main providers of funding for U.S. residential loans since investors spooked by the financial market meltdown turned their backs on Wall Street mortgage programs. The two companies touch some $5 trillion in mortgages through ownership or by guaranteeing payment on mortgage-backed securities.

Freddie Mac in May indicated that foreclosure prevention efforts were hurting its ability to return to profitability.

The McLean, Virginia-based company has received $51.7 billion from the U.S. Treasury to maintain its net worth. Its business is dependent on continued support from Treasury and the Federal Housing Finance Agency, it said in May.

Haldeman "has a wealth of experience in finance and an impressive record of successfully leading companies through challenging transformations," Koskinen said in a statement.

(Reporting by Patrick Rucker and Al Yoon; Editing by Leslie Adler)