Freddie Mac: Gingrich Can Release Consulting Contract Details

Posted by Orb Staff on January 06, 2012 No Comments
Categories : Residential Mortgage

10653_newt Freddie Mac: Gingrich Can Release Consulting Contract Details Freddie Mac has given permission to Republican presidential candidate Newt Gingrich to publicly release the details of his contracts as an adviser to the government-sponsored enterprise (GSE).

During the Republican presidential primary campaign, Gingrich has stated that a confidentiality agreement prevented him from releasing the details of his advisory work with the GSE, which totaled approximately $1.6 million in consulting fees. However, in an interview with Bloomberg News, Freddie Mac Vice President Sharon McHale stated that the GSE has no problems with the release of this information.

‘We are not opposed to Mr. Gingrich discussing the broad terms of his consulting agreement with Freddie Mac,’ she said. ‘He is welcome to release the contract.’

Gingrich's relationship with Freddie Mac following his departure from the House of Representatives has been a sore spot in his presidential campaign, with several of his opponents questioning the exact details of his advisory work. In the Nov. 9 Republican debate, Gingrich claimed that Freddie Mac sought his advice as a ‘historian’ and denied that he worked on behalf of the GSE as a lobbyist.

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