Freddie Mac 2011 Annual Report Download - page 369

GMAC Mortgage, LLC and Residential Funding Company, LLC (indirect subsidiaries of Ally) are seller/servicers
that together serviced and subserviced for an affiliated entity approximately 3.6% of the single-family loans in our single-
family credit guarantee portfolio as of December 31, 2011. In 2012, these entities continue to service and subservice our
single-family loans in our single-family credit guarantee portfolio.
At the time Mr. Renzi joined us, he was entitled to payments from Ally consisting of unpaid deferred stock units
granted during his employment. At that time, the remaining payments had an aggregate grant date value of approximately
$860,000. The aggregate amount actually paid may be either higher or lower based on Ally’s value. Payments are
scheduled to be made in cash semi-monthly and will continue through March 2015.
In order to eliminate any potential conflict of interest, Mr. Renzi, in his capacity as an employee of Freddie Mac, has
been, and will continue to be, recused from any transactions with or decisions relating to Ally or its affiliates through
such time that he has received his last payment from Ally and its affiliates. Specifically, Mr. Renzi has been recused from
serving as the final decision-maker, and from influencing final decisions, relating to: (a) any and all aspects of Freddie
Mac’s relationship with Ally or its affiliates pertaining to both performing and non-performing loan servicing; (b) any
other business transactions with Ally or its affiliates or their status as a counterparty with us; or (c) reviews of Ally or its
affiliates by our MHA — Compliance function under the Financial Agency Agreement with Treasury.
Mr. Renzi’s relationship with Ally and its affiliates was not required to be reviewed, approved or ratified under our
Related Person Transactions Policy because Mr. Renzi, in his capacity as an employee, is recused from any involvement
in transactions with or decisions relating to Ally and its affiliates for the period that he is receiving payments on unpaid
stock units. For this reason, Mr. Renzi does not have a material interest in our relationship with Ally or its affiliates.
Conservatorship Agreements
Treasury, FHFA, and the Board of Governors of the Federal Reserve System have taken a number of actions to
support us during conservatorship, including entering into the Purchase Agreement, described in this Form 10-K. See
“BUSINESS — Conservatorship and Related Matters — Treasury Agreements,” “BUSINESS — Executive Summary —
Government Support for our Business” and “NOTE 2: CONSERVATORSHIP AND RELATED MATTERS — Related
Parties as a Result of Conservatorship.”
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