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» CFPB UPDATES FUTURE EXAMINATION PROCEDURES The Consumer Financial Protection Bureau (CFPB) released updated procedures for examinations of financial institutions and mortgage lenders, which will begin taking place in January of next year. The new procedures, published in the manuals for the Truth in Lending Act and the Equal Credit Opportunity Act, establish guidelines for a range of issues, including loan originators' compensation and ethical standards, consumer rights waivers and arbitration, appraisal disclosures, and what the CFPB terms "higherpriced mortgage loans." "The CFPB recognizes that the easier we make it for financial institutions and mortgage companies to follow the new regulations, the better off consumers will be," said Richard Cordray, director of the CFPB. "By releasing details of what our examiners will be looking for well in advance of the effective date of most of the rules, we are giving the industry more time to adjust." The CFPB also noted that these new examination procedures "are the first round of updates for what will likely be multiple updates." KNOW THIS Suspicious activity reports (SARs) submitted by depository institutions identifying "mortgage loan fraud" decreased by 29% from 2011 to 2012, the Financial Crimes Enforcement Network reported. Until 2012, mortgage loan fraud was the only classification of SARs to increase every year since 1996. MOVERS & SHAKERS VISIT US ONLINE @ DSNEWS.COM CONTINUED FROM PAGE 32 ProVest Appoints Technology Expert as Chief Information Officer ProVest hired Steve Campbell as chief information officer (CIO). Campbell has more than 25 years' IT management experience. Most recently, he served as CIO of Titanium Holdings, Inc., where he led all aspects of technology operations. At ProVest, he will oversee all technological efforts, including managing technology infrastructure planning and deployment. AmeriBid Hires Partner as Company Looks to Expand AmeriBid, LLC, named Clay Barnes a firm partner. With 25 years' industry experience, Barnes is responsible for overseeing essential preparation activities as AmeriBid grows domestically and abroad. His role also requires him to drive the company's real estate advisory services strategy and provide professional services to the company's clientele worldwide. Greystone Names Director for Affordable Housing Preservation Group Greystone hired Andrew Warren as director of investments for the firm's affordable housing preservation division. In his new role, Warren leads the firm's efforts to raise equity capital for properties through the Low Income Housing Tax Credit (LIHTC) program. Warren was previously director of portfolio management at Centerline Capital Group. Clear Title Hires Chief Title Officer for Commercial Escrow Division Clear Title Agency of Arizona selected Scott Pearson to join its ranks as chief title officer, where he will head the commercial escrow division and focus on new growth. Before joining Clear Title, he was a state manager at RedVision Systems. Pearson received dual business degrees in management and marketing from the University of Phoenix. Mackie Wolf Zientz & Mann Appoints Two Veterans to Leadership Roles Mackie Wolf Zientz & Mann, P.C., appointed Rosanna Henry director of compliance. With more than 26 years' legal and technology experience, Henry oversees the firm's case management system as well as its quality control, internal audit, and GSE compliance initiatives. Henry has represented the mortgage banking industry since 1989 in foreclosure, bankruptcy, creditors' rights, title litigation, and eviction cases as well as real estate closings. Jason Mangrum was selected to serve as managing attorney in the new Nashville office of Mackie Wolf Zientz & Mann. Mangrum has 17 years' experience in commercial litigation and representation of mortgage lenders and originators. His areas of expertise include residential and commercial foreclosures, bankruptcy, creditors' rights, title litigation, evictions, and real estate closings. TREASURY'S LAURIE MAGGIANO JOINS CFPB Laurie Maggiano, former director of policy at the Homeownership Preservation Office (HPO) of the U.S. Department of the Treasury, is now the servicing and secondary markets program manager at the Consumer Financial Protection Bureau (CFPB). Maggiano joined Treasury in November 2008 and is the only permanent housing policy director installed since the HPO was formed with the passage of the Emergency Economic Stabilization Act. The Department held a ceremony at the Treasury building in Washington, D.C., on June 25 commemorating Maggiano's work and her efforts to shape policy to aid homeowners and the mortgage industry. Maggiano was one of the original architects of the Making Home Affordable program—the same program that has set the standard for the industry. The guest list for Maggiano's honorary farewell celebration read like a who's who of industry power players. Timothy Massad, assistant Treasury secretary for financial stability; Amherst Securities' Laurie Goodman; Brian Montgomery, chairman of the Collingwood Group and a former Federal Housing Administration commissioner; Mark McArdle, former director of the Hardest Hit Fund; and the Five Star Institute's own CEO Ed Delgado were in attendance. Delgado described the exclusive event as one "fitting for such an esteemed and respected leader whose influence has effected positive change and saved thousands of families from foreclosure." In 2011, Maggiano received the Five Star Lifetime Achievement Award for her guidance and leadership throughout the housing crisis and for her unwavering commitment to the American homeowner. Maggiano is a frequent speaker at Five Star events. She will be at the 10th Annual Five Star Conference and Expo in Dallas for the Five Star's inaugural Compliance Caucus on Tuesday, September 10. Maggiano's career in the mortgage industry spans more than 25 years, including 12 years at HUD. There, she established policies and procedures to ensure consistency across the mortgage industry. She is described by servicing executives who have worked alongside her as a "tireless champion for homeowners" and someone "who never says 'no.'" Editor's Note: The Five Star Institute is the parent company of DS News. 35

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