BETHESDA, Md., Aug. 28, 2023 /PRNewswire/ — Common Securitization Solutions (CSS) announced today that Farhad Fariba has joined the firm as Executive Vice President and Chief Technology Officer (CTO). Fariba was appointed to the CSS Executive Committee by the Board of Managers and will report directly to Tony Renzi, CSS’s Chief Executive Officer. As CTO, Farhad will play a pivotal role in developing CSS’s technology strategy while overseeing technology infrastructure, software development, cybersecurity, and emerging technologies.
“CSS is thrilled to welcome Farhad to our executive management team,” said Renzi. “Farhad brings a wealth of experience and expertise in the technology industry and has an outstanding track record of driving innovation, developing scalable business solutions enabled by technology, and most importantly leading high-performing teams.”
CSS supports U.S. housing markets as the largest and most technologically advanced mortgage securitization administrator in the financial services industry. Through its state-of-the-art cloud-based platform, CSS manages the issuance and servicing of Fannie Mae’s and Freddie Mac’s Uniform Mortgage-Backed Security (UMBS) and complex multi-class securitization structures. Today CSS administers over 1 million securitization structures representing 30 million loans and outstanding principal balances of more than $6 trillion dollars. The monthly processing volume (a function of loan originations) routinely exceeds $400 billion each month.
“The CTO position is a critical leadership role within CSS,” added Renzi. “Farhad will play a pivotal role in helping CSS shape our technology strategy, driving transformative initiatives, and ensuring the alignment of our technology goals with our overall business objectives.”
Fariba joins CSS from Travel & Leisure Co, where he served as Senior Vice President, IT Platforms and Services. In this role, he was responsible for cloud and on-premises IT platforms, end-user and resort technology, service management, and application support. Prior to this, Farhad was Vice President, Technology Shared Services and Service Management at Trellix, where he led global shared services with a focus on divestiture and integration priorities. Additionally, Farhad has leadership experience in enterprise architecture, infrastructure engineering and operations, security operations, application support, and shared services management for companies including Freddie Mac, McAfee, Ally Financial, MGM Resorts International, EDS (HP), McGraw Hill, and Standard and Poors Comstock.
COMMON SECURITIZATION SOLUTIONS, LLC: Common Securitization Solutions (CSS) supports U.S. housing markets as the largest and most technologically advanced mortgage securitization administrator in the financial services industry. Through its state-of-the-art cloud-based platform, CSS manages the issuance and servicing of Fannie Mae’s and Freddie Mac’s Uniform Mortgage-Backed Security (UMBS) and complex multi-class securitization structures. Today CSS administers over 1 million securitization structures representing 30 million loans and outstanding principal balances of more than $6 trillion dollars. The monthly processing volume (a function of loan originations) routinely exceeds $400 billion each month.
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SOURCE Common Securitization Solutions, L.L.C.
