The Associated Press, citing an internal email sent by Freddie Mac CEO Edward Haldeman, did not identify Renzi's new employer. Haldeman wrote that Renzi's resignation ‘comes at a pivotal time in Freddie Mac's executive leadership transition’; Haldeman has previously announced that he will be leaving Freddie Mac this year.
Renzi joined Freddie Mac in April 2010 after working as chief operating officer of GMAC Residential Capital and president of GMAC Mortgage. He was originally Freddie Mac's executive vice president of single-family portfolio management and was promoted one year later. Paul Mullings, a senior vice president, will assume Renzi's responsibilities on an interim basis until a permanent replacement is named.