(Mark Your Calendars. The 11th Annual RealShare Washington, DC convenes at the RitzCarlton, June 1. Click here for more information.)
McLEAN, VA-Two significant developments, one routine, one not,happened with Freddie Mac at the start of theweek. The routine event was the offer of $1 billion inK-certificates, a securitization program in high demand byinvestors. The other development was the resignation ofAnthony Renzi, who oversees the GSE’ssingle-family mortgage business.
Renzi is reportedly leaving to take a position with anotherfinance company. A Freddie Mac spokesperson was not able to returna call to discuss the K-certificate offering. For the multifamilyindustry, Renzi’s departure is not relevant—except for what itsignifies, which is an ongoing brain drain at the GSEs that seemsto be getting worse, quarter by quarter.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
