David Applegate to Step Down as CSS CEO

Phil Hall

Aug 08, 2019

Fannie Mae and Freddie Mac have announced David Applegate is stepping down as CEO of Common Securitization Solutions LLC (CSS), the joint venture established by the government-sponsored enterprises (GSEs) to create a new single securitization infrastructure. Applegate will stay at CSS until a replacement is named.

CSS was established in 2013 and the focus of its efforts, the Uniform Mortgage-Backed Security (UMBS), was issued in June. Applegate was president and CEO of Dallas-based Homeward Residential Inc. before joining CSS, and was earlier president of GMAC Mortgage and chairman of GMAC Bank.

“In my conversations with the board, I expressed that this was the optimal time for a transition, following the June launch of the UMBS on the CSS-built Common Securitization Platform,” said Applegate. “Since I joined CSS in November of 2014, it has been my honor to work alongside the amazingly talented teams at CSS, Fannie Mae, Freddie Mac, FHFA, and our external partners to realize the vision for a Single Security.”

Link copied

Published

Aug 08, 2019

Analysis and Data

Over One-Third Of Americans Wants A Housing Crash

LendingTree study finds 44% of consumers believe a housing crash is coming in 2024

According to the latest LendingTree survey of over 2,000 U.S. consumers, 44% of Americans think the market is at risk of a housing crash in the next year. And with some non-homeowners believing a crash is the only way they could afford a home, it may not seem surprising that...

Analysis and Data

Housing Payments On A 5-Week Decline

Redfin's study shows monthly mortgage payments dropping $164 from peak.

A five-week decline in mortgage rates has led to a corresponding decline in housing payments, according to a new report from Redfin, the technology-powered real estate brokerage. The typical U.S. homebuyer’s monthly mortgage payment was $2,575 during the four weeks ending No...