Former GMAC head named CEO for new Fannie, Freddie subsidiary

Here’s a video of Congress worth watching. We are so civil – if we were any other country we’d be protesting David Lowman en masse.

Justice League

Fannie Mae website:

Callie Dosberg

202-752-3117

WASHINGTON, DC – Fannie Mae (FNMA/OTC) and Freddie Mac (OTCQB: FMCC) today jointly announced that the first chief executive officer (CEO) has been named for Common Securitization Solutions, LLC (CSS), which was established by the companies to build and operate the Common Securitization Platform (CSP), a new secondary mortgage market infrastructure. Additionally, Fannie Mae and Freddie Mac each appointed two executives to the CSS Board of Managers and signed governance and operating agreements for CSS.

David M. Applegate, who led both GMAC Mortgage and GMAC Bank during a 17-year career at General Motors Acceptance Corporation, has been appointed chief executive officer of CSS. Applegate brings more than 20 years of mortgage and banking experience to his new leadership role at CSS.

Prior to joining CSS, Applegate was president, CEO and director of Homeward Residential, Inc., a Dallas-based mortgage lender and servicer with assets of…

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