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May 2024 ยป thefivestar.com 13 M O V E R S & S H A K E R S company and reporting to Chairman and CEO Jay Bray. Kevin Barker assumed the role of SVP of Corporate Finance on April 22, 2024, leading the company's business finance teams and reporting to Kurt Johnson, Mr. Cooper CFO. With more than 20 years of experi- ence, Bhattacharjee brings a wealth of mortgage industry and capital markets expertise to his new role at Mr. Cooper. He was most recently the EVP and Head of Capital Markets and Correspondent Lending at Wells Fargo Home Lending, where his responsibilities included secondary marketing, strategic quality management, product management, revenue and pricing, and correspondent lending. Prior to Wells Fargo, Bhattacha- rjee held senior leadership positions at Citi Mortgage and Caliber Home Loans. "Ranjit's deep knowledge of capital markets and correspondent lending and Kevin's extensive understanding of the mortgage industry will undoubtedly bring new ideas and insights to Mr. Cooper," Bray said. "We are excited to welcome these two new leaders to our team as we continue to grow and scale our business." Bhattacharjee added, "I have long admired Mr. Cooper's success in the mortgage industry and the company's impressive growth over the years. I am thrilled to be joining the executive team in May." Barker joins the company with nearly 20 years of financial analyst experience covering mortgage and con- sumer finance. He most recently served as managing director and senior equity research analyst at Piper Sandler cover- ing the mortgage and consumer finance sectors, where he led a team focused on mortgage originators and servicers, card and auto lenders, mREITs and payments companies. "I am truly excited about the oppor- tunities that lie ahead for Mr. Cooper and deeply honored to join such a successful and well-respected team that I have had the privilege to follow for more than 10 years," Barker said. ALLY FINANCIAL NAMES NEW CEO Ally Financial Inc. has announced the appointment of Michael G. Rhodes as CEO. In addition, he will also be appointed to Ally's Board of Directors at that time. Rhodes brings to Ally over 25 years of experience across retail and consumer banking and has a track record of delivering transfor- mative digital, data, and technology strategies. Rhodes replaces Jeffrey J. Brown, who stepped down at the end of January 2024 after nearly nine years as CEO. Doug Timmerman, Ally's President of Dealer Financial Services, has been serving as interim CEO since Brown's departure. "After an exhaustive search process, the Board has chosen Michael to lead Ally into the next stage of its evolution," said Franklin Hobbs, Chairman of the Board of Ally Financial. "Our trust is grounded in his versatile consumer banking experience, his focus on using data and insights to drive decision-mak- ing, and his commitment to creating long-term value for our stockholders. Im- portantly to Ally, Michael understands the power of a motivated workforce. He knows supporting team members and investing in workplace culture is essential to the mission of any organiza- tion. Indeed, his passion for serving both customers and employees makes him an unquestionable match to lead Ally." Rhodes most recently served as CEO of Discover Financial Services and as a member of its Board of Directors. He also served as President of Discover Bank and sat on its Board of Directors. "I have long admired Ally's transfor- mational approach to digital banking and its leading position in automotive finance," Rhodes said. "The bank has successfully harnessed the power of technology to create financial solutions for its customers and communities consistent with its 'Do It Right' mantra. I am so pleased the Board has put its trust in me to continue advancing Ally's RUNNING the NUMBERS Brought to you by & Magazine Y O U R T R U S T E D S O U R C E F O R M O R T G A G E B A N K I N G A N D S E R V I C I N G N E W S JANUARY 2024 LENDERS CANNOT AFFORD TO IGNORE AFFORDABLE LENDING Courtney Hess of Mortgage Cadence explains the changing face of the average American homebuyer, and how expanding product offerings can keep pace with this evolving market. CALL CENTERS UNDER NEW SCRUTINY FOR 'SOFT SKILLS' Samantha Shanaberger of Clayton Servicing Oversight examines the policies and practices of servicer call centers, and how these centers must remain vigilant of changing rules and regulations. THE NEXT DEFAULT SPIKE WILL BE UNLIKE ANY WE'VE SEEN BEFORE Things have changed dramatically in the way the default and foreclosure world operates. In this Issue: MortgagePoint assembled a panel of economists to forecast the top trends and headwinds they expect to define the housing market in 2024. Subscribe to MortgagePoint and MortgagePoint Digital now! Call 800.856.8060 to take advantage of our special introductory offer! Experts you trust. People you know. News you want. MortgagePoint is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MortgagePoint Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MortgagePoint believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Brought to you by & Magazine YOUR TRUSTED SOURCE FOR MORTGAGE BANKING AND SERVICING NEWS DECEMBER 2023 THE EVOLVING DIGITAL FRONTIER Mortgage tech advancements in 2024 will be transformative. Here's how. FHFA SUPPLEMENTAL PARTIAL CLAIM: THE NEXT ITERATION Taking a deep dive into Supplemental Partial Claims, the benefits and drawbacks they present in today's mortgage landscape, and other considerations. NAVIGATING THE REAL ESTATE LOCK-IN EFFECT Why are so many homeowners staying in place? FIVE STAR ANNOUNCES LAUNCH OF MORTGAGE SERVICING EXECUTIVE ALLIANCE In this Issue: EYES HORIZON As we approach a new year, MortgagePoint took the temperature of industry experts to see what lies ahead for a market that trudged through 2023 hampered by the convergence of rates reaching 20-year highs, a shortage of housing inventory, and inflated home values. Brought to you by & Magazine Y O U R T R U S T E D S O U R C E F O R M O R T G A G E B A N K I N G A N D S E R V I C I N G N E W S NOVEMBER 2023 THE COST OF DOING BUSINESS With factors ranging from low volumes to inflation and manpower shortages putting the squeeze on the property preservation and field services sectors, MortgagePoint speaks to vendors and government agencies trying to guide this important industry through the challenges. MARKET CHANGES DRIVING SMARTER CUSTOMER CONVERSATIONS How leveraging advanced CRM can boost business by blending user-friendly technology and the human touch to create a more seamless mortgage experience. DIFFERENTIATING AI APPLICATIONS IN THE MORTGAGE SPACE Building a culture of innovation that supports the adoption of disruptive technologies is like unlocking a hidden treasure. FROM MANUFACTURING TO MORTGAGES, QUALITY DATA IS KEY When it comes to accurate data, companies can't afford not to use AI. IDENTITY CRISIS Here's how digitization reshapes the battle against seller impersonation fraud. THE INDEPENDENT INVESTOR IMPACT Could real estate investors be the answer to the housing shortage? 5 TRIGGERS TO SHIFT IN-HOUSE SERVICING TO A SUBSERVICER Could you be getting a better ROI on your servicing portfolio? ALSO IN THIS ISSUE: