Fannie Mae and Freddie Mac jointly created U.S. Financial Technology, LLC (U.S. Fin Tech) to inventory and manage their $6.5 trillion mortgage-backed securities (MBS) portfolios, representing 30 million loans, and to sell their technology to other institutions.

U.S. Fin Tech, co-owned by the government-sponsored enterprises (GSEs) and regulated by the Federal Housing Finance Agency (FHFA), took over Fannie and Freddie’s jointly shared legacy company Common Securitization Solutions. U.S. Fin Tech’s name better reflects its critical role in providing advanced, innovative technology, and business solutions for Fannie Mae and Freddie Mac, according to the GSEs.

“We are excited to have a name that demonstrates that we are leading the United States and the world in financial services technology,” U.S. Fin Tech CEO Tony Renzi said.

This change reaffirms the company’s mission to support U.S. housing by ensuring liquidity, safety and soundness in the market, and positions U.S. Fin Tech for additional opportunities to create value and introduce industry-leading capabilities for its existing and future clients, according to the GSEs. 

“We created U.S. Fin Tech to demonstrate the incredible ingenuity of American technology under President Trump’s leadership,” said FHFA Director and chairman of GSEs William Pulte said.