��
FED PAYS
RECORD
$88.9B TO
TREASURY
The Federal Reserve announced
it paid a record $88.9 billion to
Treasury in 2012. In 2011, the Fed
turned over $75.4 billion at year-end
to Treasury. The previous record
amount was $79.3 billion in 2010.
The earnings are from Fed
programs that were introduced
to stimulate the economy and
include its purchase of billions in
mortgage-backed securities (MBS)
each month to keep interest rates
down. Currently, the Fed buys $40
billion in agency-backed MBS every
month and $45 billion in Treasury
debt.
Out of an estimated net income
of $91 billion for 2012, the Fed
reported $80.5 billion came from
interest income on securities it
purchased, which encompasses
both Treasuries and GSE mortgage
bonds.
As a policy, residual earnings of
Fed banks go to Treasury each year
after certain costs are provided for
such as operations.
KNOW THIS
Foreclosure prices
are at a 10-year low
as measured by
price per square
foot, according to
FNC, Inc.
��Foreclosure sales in
Q4 2012: $65 per
square foot
��Non-foreclosure
sales in Q4 2012:
$106 per square
foot
��Foreclosure
sales before the
mortgage crisis:
$70 per square foot
MOVERS & SHAKERS
VISIT US ONLINE @ DSNEWS.COM
CONTINUED FROM PAGE 34
Safeguard Strengthens Leadership with Two Executive Hires
Safeguard Properties hired Joe Iafigliola for the newly created position of VP of vendor
management. He is charged with leading Safeguard���s strategic initiatives to manage the
company���s nationwide network of property preservation and maintenance vendors. Before joining
Safeguard, Iafigliola held leadership positions with McMaster-Carr Supply Company, Newell/
Rubbermaid, and Procter & Gamble.
Wendy Anderson is the newest attorney on Safeguard���s legal team. She is responsible for
contract negotiations, monitoring and compliance, evaluating regulatory impact, and supporting
internal operations. Previously, she served as corporate attorney with GCA Services Group and
in-house counsel for National Retail Properties in Orlando. Anderson earned her Juris Doctorate
from the University of Florida���s College of Law.
US REO Partners Names New President
US REO Partners has selected Andrea Johnson to lead the association as president for a twoyear term. Johnson is principal broker of RE/MAX Equity Group, Inc., in Oregon and has been in
the real estate and mortgage servicing industries for 20 years. She succeeds Michael Weaster,
who is now honorary first past president emeritus.
STRATMOR Taps Industry Vet for Practice Manager Role
The STRATMOR Group has hired Lisa Springer, a mortgage industry veteran with more than
20 years��� experience, to serve in the role of practice manager. Springer works to instill best
practices and coordinate project and promotional efforts across all business lines. She also helps
STRATMOR enhance its service offerings and its ���intellectual expertise.���
Gerner & Kearns Names New Partner, Hires Associate Attorney
Gerner & Kearns Co., LPA, named Todd V. McMurtry partner of the firm���s litigation practice
group. McMurtry brings more than 20 years��� litigation experience to the firm. He practices in
the area of complex litigation and represents individuals and businesses in matters related to
business, banking, land use, real estate, and construction disputes. He is licensed to practice in
Ohio and Kentucky and is a Harvard Mediation Institute trained mediator.
The firm also announced the addition of associate attorney Ethan Hill to its collections practice
group in the Cleveland office. Prior to joining Gerner & Kearns, Hill worked for the Cuyahoga
County prosecutor���s office in Ohio. He is a member of the Ohio State Bar Association, the
Cleveland Metropolitan Bar Association, and the Lakewood Bar Association. He obtained his Juris
Doctor from Cleveland���Marshall College of Law.
First Valuation Appoints National Sales Executive
First Valuation appointed Ted Venhorst to the position of national sales executive. Venhorst
was selected to manage existing client relationships and to develop new valuation partnerships.
Venhorst has been in the real estate and financial services industries for nearly 30 years, with
experience in banking, correspondent lending, and advisory services.
Real Matters Selects Real Estate Tech Exec for Board Seat
Real Matters, the parent company of Solidifi, appointed real estate technology executive Robert
Courteau to its board of directors. Courteau is currently CEO of Altus Group Ltd. He has also held
several senior executive positions at leading technology companies. Prior to joining Altus Group,
he was president of the business management software developer SAP.
Rogers Townsend & Thomas Announces New Hires, Shareholder Award
Rogers Townsend & Thomas, P.C., welcomed John F. McLeod IV as a default services attorney
in its Columbia, South Carolina, office. McLeod focuses mainly in the areas of real estate and
mortgage foreclosures. He earned his Juris Doctor from the University of South Carolina School of
Law in 2012, where he graduated cum laude and was a member of the Mock Trial Bar.
Andrew Powell also joins the Rogers Townsend & Thomas Columbia office as an associate
in the default services department. Powell���s areas of focus include real estate, mortgage
foreclosures, and bankruptcy. He earned his Juris Doctor from the University of South Carolina���s
School of Law, where he graduated cum laude in 2011.
Cynthia Durham Blair of the firm���s Columbia office was honored March 14 with a 2013
Leadership in Law Award from SC Lawyers Weekly. Blair specializes in residential real estate
transactions, such as real estate closings, REO title resolution, mobile home law, contract and
loan-document drafting, and buyer and seller representation. She also serves on the firm���s
executive committee.
Blair is the chair of the SC Bar Convention Committee and serves on the Bar Ethics Advisory
Committee and Real Estate Section Council. She is also a member of the Education Committee of the
Palmetto Land Title Association. Blair earned her Juris Doctor from the University of South Carolina.
37
