CSS Board of Managers Commences Search for Successor Fannie Mae: Katie Penote 202-752-2261 Freddie Mac: Fred Solomon 703-903-3861 WASHINGTON, DC — Fannie Mae (FNMA/OTCQB) and Freddie Mac (FMCC/OTCQB) announced today that David Applegate will step down as Chief Executive Officer (CEO) of Common Securitization Solutions, LLC (CSS), a joint venture established by the companies in 2013 to build and operate a new single securitization infrastructure. The CSS Board of Managers has launched a search for his replacement, which will include both internal and external candidates. Mr. Applegate will stay on board to help ensure a smooth transition. "In my conversations with the Board, I expressed that this was the optimal time for a transition, following the June launch of the Uniform Mortgage-Backed Security (UMBS) on the CSS-built Common Securitization Platform," commented Mr. Applegate.