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» MOVERS & SHAKERS KEEP UP WITH WHO'S DOING WHAT AND WHO WENT WHERE Got something to share with us? Send it to Editor@DSNews.com. Senate Confirms Jack Lew as Treasury Secretary The Senate voted in President Obama's pick for secretary of the U.S. Treasury, Jack Lew, on February 27. He replaces Timothy Geithner, who stepped down in January. Lew was previously the president's chief of staff and is a former managing director and COO of Citi Global Wealth Management and Citi Alternative Investments. He was also EVP and COO of New York University. Fannie Mae Selects CFO to Succeed McFarland Following the announcement that CFO Susan McFarland will depart by the end of June, Fannie Mae appointed David C. Benson as EVP and new CFO. Benson was Fannie Mae's EVP of capital markets, securitization, and corporate strategy, a position he held since last September. Before that, he served as EVP of capital markets from 2009 to 2012. CoreLogic Brings on Two New SVPs to Head Government Solutions and Specialty Credit CoreLogic appointed Faith Schwartz, former executive director of the HOPE NOW Alliance, to serve as SVP of government solutions. In her new role, Schwartz oversees CoreLogic's business relationships and interaction with federal regulatory agencies and the GSEs. She will also lead the team charged with delivering solutions for monitoring the health of the mortgage market. Schwartz created and founded HOPE LoanPort. She currently sits on the boards of HOPE LoanPort and Mortgage Cadence. CoreLogic also appointed Pam Storm as SVP of specialty credit. Storm brings more than 15 years' risk management experience to the company. As SVP of specialty credit, her main role is to deliver solutions to grow the company's tenancy and under-banked businesses. Potestivo & Associates Founder Honored, Firm Announces Promotion and New Hire Brian A. Potestivo, who founded Potestivo & Associates, P.C., in 1990, was named one of the 2013 Leaders in the Law by Michigan Lawyers Weekly. Only 30 honorees are recognized for the prestigious award. The leaders were selected by a panel who considered the individual's integrity, ability to inspire and lead others, and his or her passion on behalf of clients and the Michigan legal community. After graduating from Thomas M. Cooley Law School, Potestivo began his practice out of a small office near downtown Rochester, Michigan. Today, the firm employs more than 120 professionals in three area offices. The firm also announced the promotion of Lori M. Gainey to director of finance. Gainey oversees accounting practices for the Michigan and Illinois offices. Gainey first joined Potestivo & Associates in 2006 as director of accounting. She earned her bachelor's degree from Michigan State University, went on to pursue a master's degree in accounting from Oakland University, and is licensed as a Certified Public Accountant. Potestivo & Associates recently added Rafal H. Kopycinski to the firm's team of attorneys at its Chicago location. Kopycinski serves as an associate attorney and offers support to the Illinois foreclosure and litigation departments. Caliber Funding Names SVP of Operations Caliber Funding, LLC, appointed Tammy Richards SVP of operations. Richards has more than three decades of leadership experience in mortgage banking. In her new role, she is responsible for overseeing the company's processing, underwriting, closing, credit, and appraisal departments across all channels. Keystone Announces Business Development Promotion Keystone Asset Management promoted Phil Paci to the role of director of business development. Paci began his career at Keystone in 2008. Before his promotion, he managed client portfolios as REO team lead and asset manager at the company. In his new role, Paci is responsible for broadening the company's reach within the default industry. WFG National Title Adds Industry Vet to Florida Team WFG National Title Insurance Company appointed industry veteran Teresa Chiotti to serve as title officer and North Florida agency representative. Chiotti brings 31 years' experience in the title industry to the company. Her new role requires her to grow and maintain relationships with agents throughout Northern Florida. CONTINUED ON PAGE 34 VISIT US ONLINE @ DSNEWS.COM BERNANKE HIGHLIGHTS BENEFITS, RISKS OF FED STIMULUS Federal Reserve Chairman Ben Bernanke underscored the benefits of the Fed's quantitative easing policy while also pointing to associated costs and risks when he spoke to members of the Senate in late February. Bernanke began his testimony by assessing current economic conditions. Despite gains in employment, he described the job market as "generally weak." "With unemployment well above normal levels and inflation subdued, progress toward the Federal Reserve's mandated objectives of maximum employment and price stability has required a highly accommodative monetary policy," Bernanke explained. One "accommodative" policy is the Fed's program for largescale purchases of longer-term securities intended to support economic growth by keeping long-term interest rates low. Currently, the Fed purchases $40 billion in agency mortgagebacked securities each month and another $45 billion in Treasury securities on a monthly basis. These purchases, as indicated by the Federal Open Market Committee (FOMC), will continue until there is "a substantial improvement in the outlook for the labor market in a context of price stability," Bernanke said. Although the plan is to continue, Bernanke says the FOMC assesses asset purchases within a "cost-benefit framework." According to the Fed chairman, the benefits of the purchases and policy accommodation are clear. "Monetary policy is providing important support to the recovery while keeping inflation close to the FOMC's 2 percent objective. Notably, keeping CONTINUED ON PAGE 34 33

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