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12 L E N D E R S A N D S E R V I C E R S WELLS FARGO NAMES SCOTT POWELL NEW COO Wells Fargo & Company announced that Powell will serve on the company's Operating Committee and report directly to CEO and President Charlie Scharf. "I have known Scott for many years, and his tremendous experience, proven track record, and unquestioned integrity will make him a great addition to our management team," Scharf said. "He's the ideal person to take on this new position as we seek to transform Wells Fargo so that high-quality execution, clear accountability, and operational excellence become unquestioned components of our culture. ese elements are critical for us as we tackle our most important priority, regulatory remediation, and also create the foundation from which to build Wells Fargo and to best serve our customers." As COO, Powell will oversee regulatory execution and relations, enterprise shared services, and a range of operational functions across the company. "He will be empowered to execute on the company's regulatory commitments, build the strongest possible operational standards and governance and deliver consistent, high-quality customer service," Wells Fargo said in a statement. "I have known Scott Powell for many years, and his tremendous experience, proven track record, and unquestioned integrity will make him a great addition to our management team. He's the ideal Movers & Shakers Got something to share with us? Send it to Editor@DSNews.com. Fannie Mae and Freddie Mac jointly announced the appointment of Anthony N. Renzi as CEO of Common Securitization Solutions, LLC (CSS), a joint venture owned by the two GSEs that oversees the Common Securitization Platform. Renzi succeeds David Applegate who announced earlier in 2019 that he would be stepping down as CSS CEO by year-end. e 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," Renzi said. "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." Jerry Weiss, EVP of Freddie Mac and Chairman of the CSS Board of Managers, said, "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. e appointment of Tony Renzi signals our commitment to a seamless transition in leadership that will pave the way for continued progress at CSS." "I'm excited to be with an organization that enabled the launch of the UMBS. 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." —CEO, Common Securitization Solutions Anthony N. Renzi Appointed as CEO of Common Securitization Solutions G O V E R N M E N T