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» MOVERS & SHAKERS One thing's for certain: The default industry doesn't sit still. Keeping up with who's doing what and who went where can be a tough task, which is why DS News highlights those people in the industry who are making things happen. Got something to share with us? Send it to Editor@DSNews.com. SEC Chairman to Step Down, New Appointment Announced After serving as chairman of the Securities and Exchange Commission (SEC) for nearly four years, Mary L. Schapiro stepped down. Schapiro was appointed chairman by President Barack Obama in January 2009 and was sworn in at the end of the month after receiving unanimous confirmation from the Senate. She is one of the longest-serving SEC chairmen and holds the distinction of being the first woman to act as a permanent chairman. President Obama announced his intent to appoint Commissioner Elisse Walter to take over the role. Walter was appointed to the SEC by President George W. Bush in 2008 and served as acting chair in January 2009. Before her appointment, she worked as senior EVP of regulatory policy and programs for the Financial Industry Regulatory Authority. NFCC Announces Educator of the Year Recipient The National Foundation for Credit Counseling (NFCC) named Lori Lamb educator of the year at its annual conference. The NFCC Professional Achievement and Counseling Excellence educator of the year award recognizes the work of financial educators who are part of an NFCC member agency. Lamb has more than 16 years' experience in the credit industry. Clear Title Agency Announces Two Strategic Hires Clear Title Agency hired two new officers to join its growing Arizona-based team. Candice Rice was selected as commercial business development officer, and Carol Rieger was brought on to serve as senior commercial escrow officer. In her new role, Rice is responsible for developing and marketing the commercial escrow department. Prior to joining Clear Title, Rice was VP of credit at Factors Southwest and VP of special credits for First National Bank of Arizona. Rieger's specialty is in commercial and builder escrow transactions. She first began her career in the title and escrow industry more than 14 years ago as a commercial escrow officer. During her career, she has managed several escrow branches. Prior to working in the title and escrow industry, Rieger worked as a commercial real estate paralegal. Equator Announces Two Executive Promotions, Hires VP of Quality Assurance Equator recently announced two executive promotions. Shana Lakso and James Vinci were both raised to SVP positions in recognition of their accomplishments and contributions to the default servicing technology provider. Lakso went from being Equator's VP of relations to SVP of relations. In her two years with the company, Lakso has led the development of a successful team that has been praised by clients for meeting broad needs of the marketplace and individual objectives. Vinci will continue his role as CIO but will also serve as SVP of technology, a newly added post. During his three years with the company, Vinci played a key part in the growth of Equator's technology initiatives. Equator also announced the hiring of Sevak Markarian as VP of quality assurance. Markarian joins the technology company with more than 10 years' industry experience. In his new role, Markarian leads Equator's efforts in developing, testing, and delivering industry solutions for servicers, service providers, and real estate agents. Before joining Equator, Markarian was the senior quality assurance director for Accelrys. Equator, based in Los Angeles, provides default software solutions for lenders, servicers, real estate agents, and other mortgage and real estate industry professionals. Freedman Anselmo Lindberg Adds Three Associate Attorneys Three new associate attorneys joined the growing default practice at Freedman Anselmo Lindberg, LLC. The Chicago-based firm recently announced the hiring of Molly Glanz, Colin Winters, and Teena Thomas. Glanz practices in the area of mortgage foreclosure law. She recently graduated from the John Marshall Law School. Glanz is licensed to practice in Illinois and is a member of the Illinois State Bar Association and the Chicago Bar Association. Winters specializes in the areas of mortgage foreclosure and real estate law. He is a 2008 graduate of Loyola University Chicago School of Law and attended the University of Illinois at Urbana-Champaign for his undergraduate studies. He is licensed to practice law in the state of Illinois and is a member of the Illinois State Bar Association and the Chicago Bar Association. Thomas' specialty is mortgage foreclosures. She currently holds a license to practice in Illinois and is a member of the Illinois State Bar Association, the Chicago Bar Association, and the DuPage County Bar Association. She earned her bachelor's degree from the University of Illinois at Urbana-Champaign and her Juris Doctor from Northern Illinois University College of Law. Thomas also studied civil law and the European Union at the Universite Montesquieu-Bordeaux in France. CONTINUED ON PAGE 30 VISIT US ONLINE @ DSNEWS.COM Servicers Provide $26B in Mortgage Relief Five mortgage servicers have provided more than 300,000 borrowers with some form of mortgage relief as part of their settlement agreement with federal and state officials, according to a report from the watchdog charged with ensuring the servicers comply with the terms of the agreement, settlement monitor Joseph A. Smith Jr. Ally Financial, Bank of America, Chase, Citi, and Wells Fargo signed onto the $25 billion mortgage settlement in February 2012 to resolve allegations they mishandled foreclosures. The agreement requires the five servicers to provide a collective $20 billion in relief to mortgage borrowers: Ally, $200 million; Bank of America, $8.5 billion; Chase, $4.2 billion; Citi, $1.7 billion; Wells Fargo, $4.3 billion. Each servicer receives credits toward its mortgage relief obligation for various loss mitigation and borrower assistance actions, such as first and second lien modifications, short sales, deficiency waivers, relocation support, principal reductions, refinances, and antiblight activities, among others. Mortgage relief credits are based on formulas that differ depending on the action; in most cases, servicers are not credited on a dollar-for-dollar basis, thus the gross amount of relief actually provided will be higher than what is credited. According to the progress report published by Smith in late November, as of September 30, 2012, servicers reported providing $26.11 billion in actual consumer relief, which represents a value of $84,385 for each assisted borrower. "The relief the banks have reported is encouraging," Smith said. "But it is important to remember that no obligations will be met until I have reviewed, confirmed, and credited them." Smith explained in his report that the servicers will be credited based on the level of assistance provided. Some principal forgiveness CONTINUED ON PAGE 30 29

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