DS News - Digital Archives

» 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. Fannie Mae Elects Renowned Technology Leader to Board Dr. Amy E. Alving was selected to join Fannie Mae's board of directors. Alving worked from December 2007 to September 2013 as SVP and chief technology officer at Science Applications International Corporation. She was also a director at the Defense Advanced Research Projects Agency, a White House fellow, and tenured faculty member at the University of Minnesota. Schneiderman & Sherman Appoints Litigation Managing Attorney Schneiderman & Sherman, P.C., named Patricia Carey managing attorney of its litigation group. As a litigation specialist for 18 years, Carey has taught trial skills to hundreds of law students and new attorneys both as a managing attorney and guest faculty member of the Committee on Regional Training. Carey received her J.D. from the University of Miami School of Law. LPS Executive Joins MBA's Board of Directors Bill Griffin, EVP of sales, marketing, and the Office of the Enterprise at Lender Processing Services (LPS), has been elected to serve on the Mortgage Bankers Association's (MBA) board of directors. Griffin's long history of executive leadership includes tenures with LSI, Prudential, Ticor Mortgage Insurance, Ticor Securities Company, and the Stratmor Group. Potestivo & Associates Adds Attorney in Chicago Potestivo & Associates, P.C., added Megan C. Adams to its team of attorneys. Adams is located in the firm's Chicago office and serves as an associate attorney, supporting the firm's Illinois operations. Adams was employed by Potestivo as a law clerk in its Chicago office since September. She graduated in May from DePaul College of Law, where she qualified for the Law Merit Scholarship. Collateral Analytics Names Economist SVP of Research and Development Collateral Analytics named economist James R. Follain, Ph.D., SVP of research and development. Dr. Follain has more than 35 years' experience analyzing housing and mortgage markets. He is a senior fellow at the Rockefeller Institute of Government, an extended faculty member at Lincoln Institute of Land Policy, and worked with Freddie Mac and the Federal Reserve. Fidelity Financial Announces Executive Transitions Title insurance and mortgage services provider Fidelity National Financial, Inc., (FNF) announced it is reallocating executive responsibilities as it nears the closing and integration of Lender Processing Services, Inc. Company president Raymond R. Quirk takes over as CEO, effective December 7. Quirk's tenure with FNF spans nearly three decades. While serving as FNF president, he was also CEO of Fidelity National Title Group. Quirk replaces George P. Scanlon (not pictured), who is transitioning out of the chief executive role. In addition, FNF announced that its current EVP of corporate finance, Brent B. Bickett, will step up to replace Quirk as president. Bickett's expanded role will include primary responsibility for FNF's portfolio of companies, including Remy, American Blue Ribbon Holdings, J. Alexander's, Ceridian, and Digital Insurance. Bickett has been with the company for 15 years. NAR Hires Managing Director of Data Analytics The National Association of Realtors (NAR) hired Todd Carpenter for the new position of managing director of data analytics. Carpenter was most recently senior manager of industry engagement at Trulia.com and was NAR's director of digital engagement earlier in his career. Carpenter, along with a yet-to-be-hired data scientist, is responsible for forming a new predictive analytics group for NAR. RealtyTrac Brings E-Commerce Expert on Staff as SVP RealtyTrac announced the appointment of e-commerce specialist David Towers as SVP of revenue generation and operations. In this new role, Towers is tasked with overseeing RealtyTrac's website and call center operations as well as growing and improving revenue for the entire company. Towers has almost 20 years of e-commerce and digital business experience. Sabal Names Longtime Lehman Brothers Vet as Managing Director Sabal Financial Group, L.P., appointed Marguerite Brogan managing director. She oversees business development efforts and assists with the loan transaction services businesses for commercial real estate. Brogan was previously head of Park Praedium, a real estate advisory firm she founded. Prior to that, she was a managing director in Lehman Brothers' Global Real Estate Group. CONTINUED ON PAGE 36 VISIT US ONLINE @ DSNEWS.COM ANALYSTS STRESS NEED FOR FHA REFORM As the government slowly works toward GSE reform, Keefe, Bruyette & Woods (KBW) says reform for the Federal Housing Administration (FHA) should also be a top concern. "While FHA reform has been discussed, it has clearly played a secondary role to the more pressing issue of GSE reform," KBW analysts stated in a recent report. "[W]e continue to believe that the two have to be done in conjunction to avoid a potential shift in volume back to the FHA." The federal agency's market share grew from a portfolio of about $400 billion before the housing crisis to about $1.1 trillion since, all while its capital reserves fell to -1.44 percent in 2012 despite a mandated minimum of 2 percent. The FHA reported a projected capital reserve of -0.4 percent for 2013 before a rise to 0.2 percent in 2014. Meanwhile, the agency has upped its premiums and received $1.7 billion from the Treasury to bolster its financial status. In addition, FHA plans to sell about 40,000 distressed loans in its portfolio this year, and it is focused on loss mitigation strategies in order to reduce potential losses. While its portfolio remains large, FHA has reduced its footprint in the market somewhat. In particular, the agency has cut its share of low down payment loans from more than 80 percent of the market to about 50 percent, according to KBW. Additionally, "Going forward, we believe that higher-quality borrowers will take GSE loans with private mortgage insurance as opposed to FHA loans because of the significant price advantage," KBW stated. "The longer-term role of the FHA should continue to narrow," CONTINUED ON PAGE 36 35

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