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MOVERS & SHAKERS
KEEP UP WITH WHO���S DOING WHAT AND WHO WENT WHERE
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CFPB Names Acting Deputy Director
The Consumer Financial Protection Bureau (CFPB) appointed Steve Antonakes as acting
deputy director while the agency searches for Raj Date���s replacement. Antonakes has spent more
than two decades as a financial services regulator. He joined the CFPB in November 2010 and
was named associate director for supervision, enforcement, and fair lending in June 2012.
Genworth Brings on New Chief Risk Officer for U.S. Mortgage Insurance
Genworth Financial, Inc., has added Michael Derstine to its executive team as chief risk
officer within its Genworth U.S. Mortgage Insurance unit. Previously, Derstine was with Republic
Mortgage Insurance Company, where he most recently served as capital deployment group
manager and led the underwriting risk policy, portfolio risk monitoring, and pricing groups.
Law Firm ERW Appoints VP of Human Resources
The Law Offices of Elizabeth R. Wellborn, P.A., appointed Stephanie ���Chloe��� Bedenbaugh
VP of human resources. Bedenbaugh has more than 25 years of high-level human resource
management experience. She previously served as director of human capital for PRIZIM, Inc., and
held positions with Booz Allen Hamilton and Freddie Mac.
The Wirbicki Law Group Hires Compliance Exec, Announces Attorney Promotion
The Wirbicki Law Group, LLC, hired Amanda V. Green as chief compliance officer. Green
has been working in the area of compliance for four years. She is currently admitted to practice
in Kentucky, Ohio, and Indiana, as well as the U.S. District Courts for the Eastern and Western
Districts of Kentucky and the U.S. District Courts for the Northern and Southern Districts of
Indiana. She is a graduate of the University of Cincinnati College of Law.
The law firm also announced that Larry Goldstein was promoted to default attorney manager.
Goldstein works in the firm���s judicial foreclosure department in Chicago. He has more than 30
years��� experience handling default-related issues and was previously an associate attorney with
the Wirbicki Law Group for two years. He earned his Juris Doctorate from Loyola University of
Chicago Law School and is licensed to practice in Illinois.
De Novo Announces Selection for Workflow Coordinator
De Novo hired Teresa Leatherwood as workflow coordinator. Leatherwood joins the company
at its Baltimore headquarters, where she is responsible for assisting the operations team in
managing De Novo���s daily workflow. Leatherwood holds nearly 30 years of administrative
experience, mainly in the real estate and insurance industries.
Clear Title Agency Adds Four New Officers
Clear Title Agency of Arizona hired Nicollette Baker and Camille Sitto as business
development officers and Mary McGovern and Kathleen Veglia as senior escrow officers. All
four have joined the company���s residential division.
Baker���s responsibilities at Clear Title include developing and maintaining relationships
with Realtors, mortgage brokers/bankers, builders, and developers. Previously, she served
as senior account manager at the Talon Group and director of sales and marketing for
Camelback Title Agency. Baker earned her bachelor���s degree at Arizona State University.
In her role as business development officer, Sitto is also tasked with cultivating
relationships with industry professionals. In addition, she provides escrow services to
existing clients. Before joining Clear Title, she was an assistant escrow officer at the Talon
Group. She also earned her bachelor���s degree at Arizona State University.
As senior escrow officer, McGovern works with the company���s team of escrow officers,
escrow assistants, and business development managers on refinance, sale, REO, short sale,
and foreclosure transactions. Previously, she served as an assistant branch manager and
senior escrow officer at Title365 Company and was an escrow officer at Old Republic Title
Company. She is an approved Fannie Mae loan underwriter. McGovern attended Centralia
College in Centralia, Washington.
Before her appointment as senior escrow officer at Clear Title, Veglia was an escrow
officer at Fidelity National Title and at the Talon Group. She is actively involved in the
Arizona State Escrow Association. Veglia received her bachelor���s degree from Arizona State
University.
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LPS: 2012 TRENDS
FOR DELINQUENCIES,
FORECLOSURES, AND
NEGATIVE EQUITY
While the national delinquency
rate remains elevated and even
increased slightly month-overmonth in December, it ended last
year 32 percent lower than the
January 2010 peak, according to
Lender Processing Services (LPS).
The delinquency rate at the end
of December stood at 7.17 percent,
up 0.7 percent from November but
down 9.1 percent from a year earlier.
LPS also highlighted the
diverging trends in judicial and nonjudicial states, noting new problem
loans (seriously delinquent loans
that were current six months ago)
are on the decline in non-judicial
states but remain stable in judicial
states. Of the 10 states with the
highest share of non-current loans,
seven are judicial states.
Foreclosure starts numbered
136,289 in December, up 4.8 percent
from the month before but down
23.6 percent year-over-year. At
57,000, foreclosure sales hit their
lowest level since March 2009 and
declined 19.6 percent from the
previous month.
Foreclosure inventory continues
to shrink, with the foreclosure
pre-sale inventory rate at 3.44
percent���that���s a 2 percent drop
from November and an 18 percent
decrease from December 2011. As
a point of comparison, however,
from 1995 to 2005 pre-crisis, the
foreclosure rate averaged 0.53
percent, according to LPS.
In light of the Consumer
Financial Protection Bureau���s new
servicing rules, LPS also analyzed
the potential impact of the new
guidelines, which go into effect
January 2014. One of the rules
requires servicers to wait 120 days
before initiating the foreclosure
process.
LPS found 30 percent of
foreclosure starts in 2012 were
initiated prior to the 120-day
waiting period. On average, about
49,000 foreclosures per month were
initiated on loans that were less than
120 days delinquent.
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