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» reconciliations; and document reviews and validations. For the annual review, operational risk auditors are used to perform an on-site review at the member facilities. The results are made known through an executive summary that outlines variances and recommended best practices for remediation. As a reminder, Interthinx says revised MERS Quality Assurance Standards require MERS members to perform an independent, third-party review of the members' quality assurance plan every year. MERS members are also required to conduct reconciliation of their portfolios on a monthly or quarterly basis. "We understand the critical importance for servicers and lenders to remain MERS compliant, but we also understand the difficulties they face trying to implement a MERS quality assurance system with internal resources," Michael Zwerner, SVP for Interthinx, said. "As a MERS preferred provider, Interthinx has leveraged its industry-leading compliance expertise to develop its MERS Compliance Audit Service to help MERS members meet the new requirements." California-based Interthinx provides comprehensive risk mitigation solutions focusing on mortgage fraud, collateral risk and valuation, regulatory compliance, forensic loan audit services, loss mitigation, and loss forecasting. WFG Increases Footprint with Acquisition of ITC Holdings Williston Financial Group (WFG), the parent company of WFG National Title Insurance Company and WFG Title Insurance Company, announced in November 2012 it is extending its Southern California presence with the acquisition of ITC Holdings, Inc., the parent of Investors Title Company. The move is the latest step in WFG's expansion as a national underwriter. The company also recently opened a commercial retail office in Irvine, California, and a direct operation in Campbell, California. With its latest acquisition, WFG increases its national footprint with an established presence in California's southern region. "This transaction is another important step in WFG's strategic business plan," said WFG president and CEO Patrick Stone. "By teaming with an established and reputable operation already in place, we have hit the ground running and grown our presence in a critical market. More important, the exceptional management and staff in place in the new offices ensure that WFG will maintain its core philosophy of serving the customer." Jeff Fox, CEO of Investors Title, will manage WFG's new offices in Orange County, San Bernardino, San Diego, and Riverside County. Current Investors Title president Chris White will oversee Los Angeles, Ventura, and Santa Barbara counties. "The combination of Investors Title Company's 32 years of local California experience and WFG's national footprint will draw customers seeking a service partner willing to collaborate and coexist with them," Fox said. "In combination with the new offices in Irvine and Campbell, we are truly excited to be a part of WFG's expansion efforts throughout California and look forward to continued success going forward." Sabal Financial Launches CRE Lending Platform In November 2012, Sabal Financial Group, L.P., a diverse financial services firm based in California, announced the launch of a commercial real estate (CRE) lending program to provide bridge loans for valueadd real estate opportunities. The program will initially provide bridge loans across all income-producing property types across the West Coast. Sabal intends to expand that focus to the national level eventually. The company will focus on projects where a clear value-add opportunity exists, whether through leasing, renovations, repositioning, or improved management operations. Loans will be made starting at $5 million. As a non-regulated lender with a proprietary capital base, Sabal boasts a unique ability to provide non-recourse loans and to move quickly with a high level of flexibility for projects with special considerations. "Sabal has assembled an experienced team that knows how to evaluate opportunities in real estate," said Pat Jackson, CEO VISIT US ONLINE @ DSNEWS.COM of Sabal. "We don't lend solely on income in place; rather, we focus on the viability of the business plan, the experience of the real estate operator, and the end result." Leading the program is James M. Martin, a 25-year veteran of CRE finance, investment, and asset management. Formerly president of Martin Real Estate Group, Martin has experience handling financing and investment sale transactions across several property types. He also worked in senior manager positions with The Picerne Group and ORIX USA. "Our real estate expertise enables us to take on complicated projects in an industry where speed and service are critical," Martin said. "Our advanced technology infrastructure creates economies of scale that allow us to perform quickly and with certainty of execution." STAT INSIGHT -14.8% Decline of foreclosure sales from October to November 2012 in California. Source: ForeclosureRadar Driven by the inDustry, for the inDustry Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. 131

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