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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. Obama Nominates New FHFA Leader President Obama nominated Rep. Mel Watt (D-North Carolina) director of the Federal Housing Finance Agency (FHFA). A U.S. congressman for more than 20 years, Watt is a member of the House Judiciary Committee and the House Financial Services Committee, and its GSE and consumer credit subcommittees. FHFA has been led by acting director Edward DeMarco (not pictured) since 2009. FHFA Announces Deputy Director Appointment The Federal Housing Finance Agency (FHFA) promoted Fred C. Graham to deputy director of the division of Federal Home Loan Bank regulation. Graham has been with FHFA since its establishment in 2008. He previously served as the agency's acting deputy director of the division of supervision policy and support and was senior associate director of the Office of Risk Analysis. NAHREP Installs New President The National Association of Hispanic Real Estate Professionals (NAHREP) announced the installation of Juan Martinez as the organization's 2013–2014 president, replacing outgoing president Gerardo Ascencio (not pictured). Martinez joined NAHREP's national leadership team in 2010 as a member of the national board. He is broker/owner of Century 21 Martinez & Associates in Las Vegas. Freddie Mac Appoints EVP of Single-Family Business David B. Lowman, joined Freddie Mac as EVP of the GSE's single-family business. Previously, Lowman served as CEO of Chase Home Lending from 2006 to 2011, overseeing $150 billion in annual production and a $1.2 trillion servicing portfolio. Before that, he spent a decade in senior leadership roles within the various lending businesses of Citigroup. Mortgage Contracting Services Appoints VP of Operations Mortgage Contracting Services (MCS) named Ken Scheller VP of operations. Scheller oversees the company's operations center in Ruston, Louisiana. He has a Six Sigma Master Black Belt certification from General Electric, where he led consumer finance and mortgage servicing efforts as a VP. Prior to joining MCS, Scheller served as SVP of default servicing at Bank of America. Venable Hires Former CFPB Attorney as Partner A former attorney for the Consumer Financial Protection Bureau (CFPB) has joined Venable LLP as a partner in its Washington, D.C., office. Allyson Baker was among the initial team of enforcement attorneys at CFPB, helping to formulate investigation and litigation policies. Prior to joining CFPB in 2011, Baker served as a trial attorney in the civil tax division of the Department of Justice. MountainView Adds to Senior Management Team MountainView Capital Holdings appointed Art Yeend managing director and head of sales and marketing. Yeend is charged with enhancing MountainView's service offerings as well as partnerships the company currently holds with its customers. Yeend has more than 30 years' experience in mortgage finance, including senior management positions in capital markets. ERW Law Names Managing Attorney for New York Office The Law Offices of Elizabeth R. Wellborn, P.A. (ERW Law), hired Asha Shravah as managing attorney and senior counsel. Shravah works out of the firm's office in Getzville, New York. She holds more than 12 years' experience representing mortgage banking creditors throughout the state of New York and frequently speaks at industry conferences and seminars. Industry Vet Takes on VP Role at Aspen Grove Solutions Aspen Grove Solutions appointed Denia Graham VP of client solutions. Graham has more than 33 years' experience in real estate, and property management. She was previously COO of TenantAccess. Before that, she served as SVP of client operations for Field Asset Services. Graham also spent more than 20 years as a management and marketing contractor for HUD. Rubin Lublin Hires Partner with Expansion into Alabama Rubin Lublin, LLC's newly formed firm in Alabama hired Cindy Williams as partner to manage the new practice. Williams has spent 16 years in the mortgage default arena, gaining experience in areas such as foreclosure, bankruptcy, eviction, title claim/clearance, and litigation matters. Rubin Lublin also has locations in Georgia, Tennessee, and Mississippi. CONTINUED ON PAGE 36 VISIT US ONLINE @ DSNEWS.COM VA LOANS LEAD IN FORECLOSURE AVOIDANCE By Chris Birk, Veterans United Home Loans A no-down payment loan program has quietly become the mortgage industry leader when it comes to foreclosure avoidance. For most of the last five years Veterans Affairs (VA) loans have maintained the lowest foreclosure rate of any major loan product, besting even prime loans. In the same span, the VA has helped nearly 300,000 military homeowners avoid foreclosure, mostly through supplemental servicing and encouraging lenders to explore viable alternatives. VA loans closed Q 4 2012 with a foreclosure inventory rate of 2.08 percent, just ahead of prime loans (2.1 percent) and well ahead of FHA loans (3.85 percent) and prime ARMs (6.68 percent). In addition, the program recently saw its streak of 14 consecutive quarters with the lowest delinquency rate come to a close. The relative safety of the program is all the more compelling given that 9 in 10 borrowers put no money down on a VA purchase. There are a couple of key reasons why VA loans have emerged as a safe haven for homeowners in jeopardy: Avoidance a priority: The Loan Guaranty Program employs about 300 people who focus on veteran borrowers in default. These foreclosure specialists are in constant contact with financial institutions nationwide and keep tabs on every VA homeowner on the edge of default. They often wind up acting as intermediaries between the veterans and servicers and help push for options such as repayment plans, forbearance, and loan modifications. Residual income standard: This is a unique VA underwriting CONTINUED ON PAGE 36 35

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