Freddie Mac named Anthony Renzi to the newly created position of executive vice president of single-family portfolio management.
Renzi is a 24-year veteran of GMAC Residential Capital (Res Cap), 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.
Reporting to Chief Operating Officer Bruce Witherell, Renzi will have responsibility for managing and minimizing the losses on the company’s $1.8 trillion single-family guaranteed portfolio, focusing primarily on non-performing loans and on servicer management.
“Tony is a proven leader and is well rounded in all aspects of mortgage banking, servicing and mortgage portfolio management,” said Witherell. “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 will assume his role on April 19, 2010. In his new capacity, Renzi will be responsible for the loss management in the single-family credit portfolio and will oversee Freddie Mac’s loss mitigation activities. Renzi will also manage the company’s relationships with servicers and its implementation of the company’s foreclosure avoidance efforts.
Renzi served as chief operating officer of Res Cap and president of GMAC Mortgage since 2008 and managed its operational and financial activities. From 2006 to 2008 he was chief operating officer of the Residential Finance Group where he led servicing operations, risk management and strategic sourcing.
Prior to that, Renzi held several executive positions at GMAC Mortgage including executive vice president, senior vice president of client branded solutions, vice president of loan administration and senior loan counselor.