Anthony N. Renzi is the new CEO of Common Securitization Solutions (CSS), a technology firms established jointly by Fannie Mae and Freddie Mac to develop the infrastructure for the new Uniform Mortgage-Backed Security (UMBS).
Renzi succeeds David Applegate who announced earlier this year that he would be stepping down as CEO by year-end.
The appointment follows a nationwide search for qualified candidates.
“CSS has been a remarkable success story,” says Jerry Weiss, executive vice president of Freddie Mac and chairman of the CSS board of managers, in a release. “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.”
Prior to joining CSS, Renzi spent more than 23 years at GMAC Mortgage and GMAC ResCap in Fort Washington, Pa., where he served as president and chief operating officer (COO).
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.
More recently, Renzi was CEO and president of Ditech Holding Corp. and president and COO for Cenlar, FSB.
“I’m excited to be with an organization that enabled the launch of the UMBS,” Renzi says. “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.”