Fannie Mae and Freddie Mac have jointly announced the appointment of Anthony N. Renzi as CEO of Common Securitization Solutions, LLC (CSS), effective December 2, 2019. 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).
“I’m excited to be with an organization that enabled the launch of the UMBS,” commented 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.”
“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, EVP 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.”
Red Bell Real Estate, LLC, a Radian subsidiary, was named among a select group of automated valuation model (AVM) providers by credit rating agency, Fitch Ratings, to supply AVMs in support of Fitch’s rating of residential mortgage-backed securities (RMBS) transactions.
“Red Bell is proud to offer an exceptional quality AVM that meets the high standards of Fitch Ratings,” said Eric Ray, senior executive vice president, Technology and Transaction Services, Radian. “It is exciting that Fitch has recognized Red Bell’s AVM offering, among its peers and we are thrilled that they are leading the way toward increased acceptance of AVMs in the marketplace. This recognition is also a testament to Red Bell, a subsidiary of Radian, as a unique company that uses proprietary technology, data and analytics to disrupt the real estate value chain.
Finicity and Ellie Mae, recently announced that Finicity’s digital Verification of Assets (VoA) solution is now available through Ellie Mae’s Encompass Consumer Connect, part of the Encompass Digital Lending Platform.
According to a release, this has been made possible by digital solutions such as Finicity’s Verification of Assets which can shorten the application process by as many as six days. Now borrowers can access this solution through Encompass Consumer Connect matching an automated, enhanced customer experience with the efficiency of digital verification.
“We believe that consumer expectations are driving the mortgage lending experience to one that is simple and intuitive,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to partner with Ellie Mae through the Encompass Consumer Connect platform to deliver a next-gen experience to borrowers while helping lenders create a more efficient origination process.”