Former GMAC Mortgage, Freddie Mac and Citigroup executive will assume responsibility for the platform that supports the administration of the new Uniform Mortgage-Backed Security and help define CSS’s future role in housing finance
WASHINGTON, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Fannie Mae (FNMA/OTCQB) and Freddie Mac (FMCC/OTCQB) today jointly announced the appointment of Anthony N. Renzi as Chief Executive Officer (CEO) of Common Securitization Solutions, LLC (CSS), effective December 2, 2019. Mr. Renzi succeeds David Applegate who announced earlier this year that he would be stepping down as CSS CEO by year-end. The appointment is the result of a nationwide search for qualified candidates to lead the joint venture, which has been instrumental in building and running the technology platform that supports the new Uniform Mortgage-Backed Security (UMBS®).
“CSS has been a remarkable success story. It now administers, on behalf of Fannie Mae and Freddie Mac, nearly 1 million securities, backed by loans with $4.8 trillion in unpaid principal balance,” said Jerry Weiss, Executive Vice President of Freddie Mac and Chairman of the CSS Board of Managers. “The appointment of Tony Renzi signals our commitment to a seamless transition in leadership that will pave the way for continued progress at CSS.”
“We are fortunate to have found an individual with deep industry experience in leading large, complex organizations,” added David Benson, President of Fannie Mae and CSS Board Member. “We’re delighted to welcome Tony to the CSS organization and look forward to working with him to strengthen and grow the services provided by CSS.”
Prior to joining CSS, Mr. Renzi spent more than 23 years at GMAC Mortgage and GMAC ResCap in Fort Washington, Pennsylvania, ultimately serving as President and Chief Operating Officer. He previously served as Executive Vice President of Single-Family and Operations and Technology at Freddie Mac and COO, Managing Director of Citibank Mortgage, Retail and Commercial Banking North America, where he managed 15,000 employees in North America, India and the Philippines. More recently, Renzi was Chief Executive Officer and President of Ditech Holding Corporation and President and Chief Operating Officer for Cenlar, FSB.
“I’m excited to be with an organization that enabled the launch of the UMBS,” commented Mr. Renzi. “We have the opportunity to continue to support Fannie Mae and Freddie Mac and further define the future of CSS and how it will support the housing finance industry.”
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog
CONTACTS:
Fannie Mae
Pete Bakel
202-752-2034
Pete Bakel@fanniemae.com
Freddie Mac
Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com