Freddie Mac has announced several organizational changes, including the consolidation of several divisions and new leadership for each of its three lines of business.
Anthony Renzi has been named the executive vice president of the new single-family and operations and technology unit, which consolidates the previously separate single-family credit guarantee, single-family portfolio management, and operations and technology divisions.
David Brickman has been named the new senior vice president in charge of the multifamily division, Carol Wambeke has been named the new chief compliance officer and Devajyoti ‘Doc’ Ghose has been appointed senior vice president of Freddie Mac's investments and capital markets division, as well as the company's treasurer.
In a statement, Freddie Mac CEO Charles Haldeman Jr. said the new division and leadership changes ‘underscore Freddie Mac's commitment to transform ourselves and prepare for a new, competitive housing finance system.’
In his new position, Renzi oversees Freddie Mac's single-family line of business, including the administration, relationship and performance management of Freddie Mac seller/servicers; performance of Freddie Mac's guarantee book of business; and all sourcing, securitization, servicing/real estate owned (REO) and business operations. In addition, he is responsible for the leadership, planning, development, delivery and management of IT services and resources for Freddie Mac.
To support the new division, Freddie Mac has announced several other senior leadership changes. Paul Mullings has been named senior vice president of single-family sourcing and securitization, which represents the seller side of the company's external face to customers; Tracy Mooney has been promoted to a new role as senior vice president of single-family servicing and REO areas; and Robert Lux, who was named senior vice president and chief information officer in October 2010, is now responsible for the company's IT assets and services.
On the multifamily side of business, Brickman will take over after Mike May, the current head of the multifamily unit, leaves the company next month. Brickman will be responsible for customer relations, product development, marketing, sales, loan purchase, asset management, capital markets and securitization for the company's multifamily business, which includes the flow mortgage, structured and affordable mortgage, commercial mortgage-backed securities and low-income housing tax credit portfolios.