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Freddie Mac Appoints EVP of Single Family Portfolio Management

Effective April 19, 2010, Anthony ""Tony"" Renzi will assume the role of EVP of single family portfolio management at ""Freddie Mac"":http://www.freddiemac.com/, the McLean, Virginia-based company announced Thursday.

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In this newly-created position, Renzi will be responsible for managing and minimizing the losses on Freddie Mac's $1.8 trillion single-family guaranteed portfolio and will oversee Freddie Mac's loss mitigation activities. In addition, he will manage the company's relationships with servicers and their implementation of Freddie Mac's foreclosure avoidance efforts.

""Tony is a proven leader and is well rounded in all aspects of mortgage banking, servicing, and mortgage portfolio management,"" said Bruce Witherell, Freddie Mac COO. ""As responsible stewards of taxpayer support, we must elevate our management focus on reducing credit loss exposure, while at the same time helping keep more American families in their homes. Having our operational and strategic resources aligned under a single, senior executive is critical to achieving our goals.""

Renzi is a 24-year veteran of ""GMAC"":http://www.gmacfs.com/us/en/index.html, where he served in numerous leadership positions and gained considerable hands-on experience in operations, portfolio management, and loss mitigation on a multi-billion dollar portfolio. He has served as COO of ""GMAC Residential Capital"":https://www.gmacrfc.com/investors/us_about.htm (Res Cap) since 2008, and from 2006 to 2008, he was COO of the residential finance group. Prior to his time at Res Cap, Renzi held several executive positions at ""GMAC Mortgage"":http://www.gmacmortgage.com/index.html, including VP, SVP of client branded solutions, VP of loan administration, and senior loan counselor.

About Author: Brittany Dunn

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