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36 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: Serious Delinquency Rate at Lowest Level Since 2008 In Fannie Mae's July Monthly Summary, the GSE says the seri- ous delinquency rate of 2 percent reported for single-family proper- ties was the lowest level reached since October 2008. e percentage of single-family properties that were in serious delinquency, which is defined as having a mortgage loan where the payment is more than three months overdue or the property is in foreclosure, experienced a month-over-month decline from 2.05 percent from June and a drop from 2.7 percent from July 2013. July's percentage of 2 is way down from Fannie Mae's serious delin- quency rate peak of 5.59 percent, reached in February 2010. Earlier in the week, GSE Freddie Mac reported a similar decline in serious delinquency for July. Freddie Mac's serious delinquency rate of 2.02 percent for that month was down from its rate of 2.07 percent in June and from 2.7 percent from a year ago. Freddie Mac's highest serious delinquency rate of 4.2 percent was also reached in February 2010. Analysts expect the serious delinquency rate for both GSEs to fall below 2 percent in Au- gust. With Fannie Mae's serious delinquency rate having declined by 0.7 percentage points since July 2013, analysts expect that at its current pace of decline, it will drop to below what is referred to as the "normal" rate of 1 percent by 2016. Also in the latest report, Fan- nie Mae says it completed 10,812 loan modifications in July and has completed 78,866 loan modifica- tions year-to-date as of July 31. Both Fannie Mae and Freddie Mac have been under conserva- torship of the Federal Housing Finance Agency since September 2008. CONTINUED FROM PAGE 34 Chris McLain Joins The Accurate Group The Accurate Group has hired on Chris McLain as SVP and National Account Manager. His new position will let him expand on title and valuation services sales by managing large accounts from across the country. McLain is a 20-year veteran of the mortgage industry, having worked in mortgage, real estate, and valuation sectors, as well. Bill Leatherberry Joins NMI William "Bill" Leatherberry has departed from Century Aluminum to join NMI Holdings as general counsel. Leatherberry holds a bachelors in business management, and worked at Century Aluminum as the executive vice president and chief legal officer. He described his transition to NMI as "a fresh approach to private mortgage insurance," and called the executive team at his new company "first-class." HPF Appoints New CEO David Berenbaum is slated to join the Homeownership Preservation Foundation (HPF) as the group's new CEO. Berenbaum possesses 28 years of experience in leadership and business management for non-profit companies such as the Equal Rights Center, the Fair Housing Council of Greater Washington, Long Island Housing Services, and the National Community Reinvestment Coalition. Churchill Mortgage Names McCarthy New Chief Marketing Officer Tennessee-based Churchill Mortgage has appointed Jay McCarthy as its new chief marketing officer as of August 27, according to a release from Churchill. McCarthy brings with him to Churchill Mortgage more than 20 years of experience in specialized marketing and brand management in the entertainment industry. Bricker Welcomes Stein to Consumer Financial Services Group Prominent mortgage banking attorney David Stein has joined Ohio-based law firm Bricker & Eckler as part of the firm's Consumer Financial Services and Litigation practice groups. Stein brings decades of experience to Bricker. Before joining the firm, Stein was previously with national lender and servicer PMAC Lending Services as SVP/General Counsel. FIRM TO SELL $2.3 BILLION IN NONPERFORMING LOANS FOR HUD Online marketplace exchange DebtX an- nounced recently its intention to sell 15,000 non- performing residential loans for the U.S. Depart- ment of Housing and Urban Development (HUD) as part of the agency's Single-Family Loan Sale (SFLS) program. e unpaid principal balance of the loans amounted to about $2.3 billion, and the loans were to be sold in eight national pools ranging from $94.5 million to $804.5 million. e bids took place September 30. is was the sixth multibillion-dollar sale that Boston-based DebtX has handled for HUD since September 2012. DebtX has offered more than 100,000 loans for HUD since that time. In June, DebtX sold 23,000 loans with an unpaid principal balance of $3.9 billion on behalf of Seba Professional Services for HUD, marking the fifth time DebtX sold a multibillion-dollar portfolio for the government agency. e June sale was the Fed- eral Housing Administration's (FHA) first note sale under the Distressed Asset Stabilization Program of 2014, which is part of "a broader effort to reduce losses and increase recoveries to the Mutual Mort- gage Insurance Fund," according to the FHA. e SFLS program was "intended to reduce claim costs, increase the availability of affordable housing, minimize holding costs for multifamily properties, and maximize recoveries to the FHA insurance fund," according to HUD. HUD announced recently that it has sold about 91,000 loans totaling approximately $15.8 billion as part of the SFLS program since 2010 when the program began. All but about 2,000 of those have been sold in the last two years. rough the sale of the nonperforming loans, about 6,400 foreclosures were prevented as of 2013-2, according to HUD.

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