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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. Prospect Mortgage Hires Executive to Lead Growth Prospect Mortgage, LLC, hired industry veteran Amy Brandt as the president of correspondent lending and servicing. Brandt is charged with building Prospect's national correspondent lending platform and developing its loan servicing potential. Previously, she served as CEO of Vantium Capital, Inc. Brandt received a law degree from Arizona State University. LRES' Former COO Moves into Role as Chief Investment Officer LRES' former COO, Alice Sorenson, transitioned into a new position as chief investment officer. Sorenson successfully served as COO for four years. Before coming on board with LRES, Sorenson was the senior manager of business development at Reznick Group. Sorenson obtained her bachelor's and master's degrees from Pepperdine University in business administration. City National Bank Adds Two SVPs City National Bank added two executives to its real estate team in the Bay Area. Industry veterans Charlie McGann and Deven Mays were both selected to serve as SVPs. McGann, who has nearly 20 years of industry experience, was appointed as SVP and regional manager of Northern California real estate for the bank. Prior to joining City National, McGann served as regional manager of real estate for Union Bank. McGann earned his bachelor's degree from Trinity College and obtained a master's degree in finance from the University of California at Berkeley. With more than 15 years of industry experience, Mays joins City National as SVP for real estate in the Bay Area. Prior to his appointment, he was SVP and team leader of real estate with Wells Fargo's real estate division. Mays received his bachelor's degree from California State University at San Jose and went to graduate school at the University of Southern California. Sabal Financial Group Appoints Director of Business Development Sabal Financial Group, L.P., hired Jason Hull as the director of business development. Hull is tasked with developing areas of Sabal's business, such as commercial real estate investments and all types of third-party services. Prior to his appointment with Sabal, Hull directed the commercial real estate and business development efforts at distressed real estate firm Trigild, Inc. LPS Exec Selected to Lead New MISMO Committee The Mortgage Industry Standards Maintenance Organization (MISMO) selected Randy Gillis to chair its newly formed strategic planning committee. Gillis is SVP of enterprise information management for Lender Processing Services' (LPS) servicing solutions and technology division and will lead the committee's efforts to identify areas for improving loan quality and data transparency. Trott Recovery Services' Managing Partner Named Top Lawyer Trott Recovery Services, PLLC, announced the recognition of managing partner Doreen L. Hoffman as a 2013 Top Lawyer by DBusiness magazine. Hoffman earned a spot in the collections category of the magazine's Top Lawyers list. Hoffman earned her bachelor's degree from Michigan State University and her Juris Doctorate from the Detroit College of Law. RedVision Announces Market Development Director RedVision hired Amy Holder to join the company as market development director for the Eastern United States. Holder is an industry veteran of 20 years. Prior to joining RedVision, Holder was previously an account executive with the Fidelity family of companies. She is also the most recent past president of the New Jersey Land Title Association, where she has served as an officer since 2009. TREND MLS Board Elects Long & Foster Executive Long & Foster Real Estate, Inc., announced Bob Albanese was appointed to the board of directors for TREND multiple listing service (MLS). Albanese is a senior regional VP and regional manager of the Philadelphia and New Jersey region for Long & Foster. While serving on the board, he will represent large real estate firms. Albanese earned a master's degree from the Manhattan School of Music. New Attorney Joins Finkel Law Firm's Real Estate Division Finkel Law Firm, LLC, added attorney Leigh R. Bailey to the firm's real estate division. Bailey received her law degree from the Charleston School of Law. Prior to attending law school, she worked as an account manager with a large corporate consulting firm in Washington, D.C. She is currently a member of the state bars of South Carolina and Georgia. CONTINUED ON PAGE 36 VISIT US ONLINE @ DSNEWS.COM HARP on Track to Reach 1M Borrowers this Year Nearly 99,000 homeowners refinanced their mortgages in August through the Home Affordable Refinance Program (HARP), according to a mid-October report released by the Federal Housing Finance Agency (FHFA). The federal government's HARP initiative, which is applicable for borrowers with loans owned by Fannie Mae or Freddie Mac, has put 618,217 homeowners into new mortgages with lower interest rates since the beginning of this year when a broader group of borrowers was made eligible for the program. According to FHFA, HARP is on target to reach a million borrowers in 2012. The agency attributes the continued high volume of HARP refinances to recordlow mortgage rates and program enhancements that included the elimination of its maximum loan-tovalue (LTV) ratio limit. Fannie Mae and Freddie Mac loans refinanced through HARP accounted for nearly one-quarter of all refinances in August, 24 percent to be exact. In states hard-hit by the housing downturn—Nevada, Arizona, and Florida—HARP refinances represented nearly half or more of total refis during the month. HARP refinances for borrowers with LTV ratios greater than 105 percent accounted for more than 70 percent of HARP volume in Nevada, Arizona, and Florida and more than 60 percent of the HARP refinances in Idaho and California. Nationwide, LTV ratios above 105 percent characterized more than half of new HARP loans made in August. FHFA also noted in its report that nearly 18 percent of HARP refinances for underwater borrowers were for shorter-term 15- and 20-year mortgages in August. By reducing their mortgage terms, these borrowers will be able to build equity faster. CONTINUED ON PAGE 36 35

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