DS News

26 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 Forecasts Slowdown in Growth for Remainder of 2014 Despite an anticipated pickup in economic growth and housing recovery in the second half of this year, Fannie Mae expects the economy to grow at just 1.5 percent overall this year. Fannie revised its previous estimate of 2.1 percent growth for 2014 after a disappointing start to the year. e first quarter of this year measured "the worst performance in five years," and if Fannie's 1.5 percent prediction pans out, it would be "the worst performance of Q 4-over-Q 4 growth in the current economic expansion," according to Doug Duncan, chief economist at Fannie Mae. Lower-than-expected healthcare spending was the culprit in first-quarter economic woes; but consumer spending, business capital investment, and residential investment should all contribute to more robust growth in the second half of this year, according to Fannie Mae's economists. Job growth and real personal income are growing, which Fannie expects to translate to a rise in consumer spending over the second half of the year. "We expect the economy to grow approximately 3.0 percent in the second half of the year, although there is an element of uncertainty given government statisticians' difficulty in assessing the full scope of healthcare expenditures," Duncan said. e housing market is continuing to recover, contributing positively to the economy, but Fannie Mae anticipates a 2.0 percent decline in home sales and a 41.0 percent decline in mortgage originations over the year this year. On the other hand, single-family mortgage debt outstanding should increase "slightly," according to Fannie Mae. Martin, Leigh, Laws & Fritzlen, P.C. Introduces New Partner and Associate Martin, Leigh, Laws & Fritzlen, P.C., one of the leading creditors' rights and litigation law firms in the Midwest, announced the addition of a new partner and new associate. Kevin McManus is the Firm's newest partner. McManus' contributions to the Firm have been significant since he joined MLL&F in 2009. He is admitted to practice in Kansas and Missouri, and his practice is concentrated in the areas of complex civil litigation, creditor's rights and commercial transactions particularly involving matters of involving real estate, construction and title insurance issues. The Firm also announced the addition of a new Associate. Mark M. Haddad is a 2007 graduate of the University of Missouri – Columbia School of Law and a 2004 graduate of the Robert J. Trulaske College of Business at the University of Missouri. Mr. Haddad's focus at the Firm will be on individuals and corporations in a wide variety of complex legal matters, focusing primarily on defending financial institutions and their officers in cases involving lender liability, employment disputes, and contract issues. ALFN Promotes from Within for New President and CEO The American Legal and Financial Network (ALFN) announced on that its COO, Matt Bartel, has been promoted to be the president and CEO of the organization. As president and CEO, Bartel will oversee the company's daily operations, represent ALFN to the industry at-large, and will carry out strategic plans the ALFN Board of Directors sets forth. LRES Names Don Mask Chief Administration Officer and Chairman LRES' former CFO, Don Mask, has transitioned into the role chief administration officer (CAO) and chairman, according to a company announcement. A veteran of LRES for more than a decade, Mask is now responsible for developing the company's short- and long-term strategic goals; overseeing human resources, marketing, client relations, and facilities departments; establishing board governance; and managing LRES' business investments. Auction.com Adds Deep Nishar in Advisory Role Auction.com has brought on Senior Internet Executive Deep Nishar in an advisory role, making him the latest high profile industry leader to associate with the growing brand since Google Capital's investment in the company earlier this year. The LinkedIn senior vice president and board member of internet companies including TripAdvisor and Opower will provide valuable expertise to Auction.com as the company makes further enhancements to its web and mobile user experience. Caliber Appoints SVP for National Builder Division Caliber Home Loans, Inc., introduced a new leader in its National Builder Division, naming Michael Brown as SVP. Brown has more than 25 years' worth of experience in the mortgage industry, spending most of that in senior management positions for various firms across the nation. He comes to Caliber from Guild Mortgage Company, where he led the national builder division as manager. National MI Employs New SVP of Field Sales Norm Fitzgerald has been named the new SVP of field sales at National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. Fitzgerald served as SVP of correspondent lending with Nationstar Mortgage immediately prior to his appointment with National MI. Newbold Advisors Promotes Keller to Managing Director, Strategy and Compliance Kathy Keller, previously a Senior Director with Newbold Advisors, LLC, has been promoted to Managing Director, Strategy and Compliance, effective immediately. Kathy has more than 25 years of experience in strategy, compliance, program management, business analysis, business process development, and operational risk management in the financial services industry. Pro Teck Announces COO Appointment Pro Teck Valuation Services announced the appointment of a new COO, with management veteran Todd Gerspach stepping into the role. Prior to joining Pro Teck, Gerspach worked most recently at Express Scripts, a Fortune 20 company, where he served in a number of senior management roles that saw him working to increase revenue and streamline operations. Comergence Hires VP of Business Development Comergence, a California firm specializing in the design and development of third-party mortgage risk management platforms, named Corey Przenkop as VP for business development. Przenkop joins Comergence from Accurity Valuation, where he focused on sales and client retention in his role as director of business development.

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