January 30, 2007

Freddie Mac (McLean, Va.), one of the nation's government-sponsored mortgage providers, has opened a regional technology office in Schaumburg, Ill. Freddie Mac aims to capitalize on the region's growing IT labor market with its new Technology Solutions Unit (TSU).

"The Chicago area is emerging as a strong labor market for IT professionals. By opening an IT operation here, Freddie Mac is able to expand its capabilities and attract experienced talent with a growing technology corridor," said Joe Smialowski, executive vice president, operations and technology division, Freddie Mac.

There are currently 100 technology professionals working at the new location, but the company expects to grow that number to 300. A Fortune 50 company, Freddie Mac employs nearly 5,300 people, half of whom are technology professionals.

The company is hiring a variety of technical delivery positions, including project managers, business analysts, developers and quality analysts. The new hires will focus on developing applications and integrating software, and managing various IT projects.

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. It purchases residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets.