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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 14 M O V E R S & S H A K E R S July 2023 Government FANNIE MAE APPOINTS CHETLUR S. RAGAVAN TO ITS BOARD Fannie Mae has appointed Chetlur "Chet" S. Ragavan to its Board of Directors, and will serve on the Risk Policy and Capital Committee and Nominating and Corporate Governance Committee. Ragavan brings decades of enterprise risk management and financial services expertise to Fannie Mae's Board, which guides the company's mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America. "Chet is an accomplished industry executive whose significant risk oversight and financial services acumen will greatly contribute to Fannie Mae's Board of Directors and help continue the company's strong corporate governance and focus on risk man- agement," said Michael J. Heid, Chair of the Board of Directors for Fannie Mae. Ragavan is Founder and Principal of Risk Response, LLC, which provides risk advisory and consulting services to global financial institutions. Previously, Ragavan was EVP and Chief Risk Officer of Voya Financial, Inc. (formerly known as ING U.S., Inc.) from January 2014 until his retirement in April 2019. From 2008-2014, he served as Manag- ing Director and Chief Risk Officer for Voya Investment Management. Prior to joining Voya Financial, Ragavan was Managing Di- rector and Co-Head of the Portfolio Analytics Group for BlackRock from 2006-2008. He began his career at Merrill Lynch in 1980 and held several senior leadership roles during his 26-year career with the company, includ- ing as Managing Director and Global Head of Fixed-Income Research of Merrill Lynch Investment Managers from 2000-2006 and as Managing Director and Head of Risk Man- agement of Merrill Lynch Asset Management from 1992-2000. "We're pleased to welcome Chet to our accomplished Fannie Mae Board of Direc- tors," said Priscilla Almodovar, CEO of Fan- nie Mae. "We will benefit from his guidance and extensive risk management experience as we continue to support sustainable access to affordable mortgage credit and provide liquidity to the U.S. housing sector safely and soundly." Ragavan has served on the Board of Directors of CNO Financial Group, Inc. since May 2021, where he is currently Chair of the Audit and Enterprise Risk Committee, and as a member of the Investment Committee of the Board. He also serves on the Board of the Council for Economic Education. Ragavan is a Chartered Financial Analyst. Lenders/Servicers LOANDEPOT NAMES DAVID HAYES NEW CFO As part of its Vision 2025 plan, loanDepot, Inc. has announced organizational changes expected to improve operational efficiency, simplify the company's leadership structure, and move certain key executive leadership positions to its Orange County, California, headquarters. As part of the changes, David Hayes, a senior finance executive with more than 25 years of financial management, treasury, corporate finance, and mortgage industry experience, has been appointed CFO. Hayes, who will be based out of the company's headquarters in Irvine, California, will be responsible for managing loanDepot's financial functions, including its accounting, treasury, tax, corporate finance, and investor and lender relations activities. Hayes joins loanDepot from CoreLogic, where he most recently served as Executive, Finance, and Treasurer. He succeeds Patrick Flanagan, who will be departing the company after a transition period. Movers & Shakers "As we continue to advance our Vision 2025 plan, we expect to drive automation and operating leverage and invest in custom- er-facing tools and solutions, as well as im- plement operational and structural changes to optimize and streamline our business and position loanDepot for long-term growth and success," loanDepot President and CEO Frank Martell said. "We welcome David Hayes to Team loanDepot as our new Chief Financial Officer. David brings a combina- tion of strong leadership and deep mortgage industry knowledge to loanDepot. David is a consummate professional with significant financial leadership experience in our sector, and I look forward to partnering with him as we continue to execute our Vision 2025 plan." Hayes joins loanDepot from CoreLogic, Inc. where he served in senior finance roles for the past 13 years. He was most recently Executive, Finance, and Treasurer, where he oversaw financial management of CoreLog- ic's business operations including budgeting and forecasting, strategic planning, M&A, pricing, and capital expenditures. He also managed global enterprise liquidity, cash flow forecasting, investments, debt and capital markets, hedging, banking relation- ships, and corporate insurance. Prior to joining CoreLogic in 2010, Hayes held various senior leadership positions across finance, treasury, and interest rate risk management at Prospect Mortgage, LLC, and IndyMac. He has served on the Boards of Directors of ComplianceEase and Symbility. In addition, the company will further streamline its management structure, an- nouncing the departures of Chief Accounting Officer Nicole Carrillo and Chief Human Re- sources Officer Kevin Tackaberry, who each will be leaving after a transition period. "On behalf of the Board and the executive team, I want to express our gratitude to Pat for his leadership and commitment to loanDepot," Martell added. "Pat successfully helped steward the company from private to public ownership and helped guide loanDe- pot through the initial phases of the market downturn. Pat, along with Nicole, Kevin, and Zeenat have been valued colleagues, and we wish them the very best in their future endeavors." loanDepot also announced the consoli- dation of LDI Digital (including mellohome) into its existing production channels, under the leadership of LDI Mortgage President