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. Freddie Mac to Seek Punitive Damages in Deloitte Lawsuit Freddie Mac decided to seek punitive damages in its $1.3 billion lawsuit filed against accounting firm Deloitte & Touche, LLP, over some mortgage loans the GSE pur- chased from now-defunct mortgage servicer Taylor Bean & Whitaker, according to media reports. Freddie Mac's lawyers accused Deloitte of "gross negligence" with regards to the purchased mortgage loans in an amended complaint that was unsealed last month, according to the reports. When reached by email, a spokesman from Freddie Mac declined to comment on the lawsuit and would not specify how much more than the original suit amount of $1.3 billion that the GSE would seek from Deloitte in punitive damages. Freddie Mac sued Deloitte for $1.3 billion in a Florida court in September 2014 with regards to fraudulent mortgage loans the GSE purchased from Taylor Bean & Whitaker, according to reports. Freddie Mac said it would not have purchased those mortgage loans from Taylor Bean if Deloitte, which audited Freddie Mac from 2002 to 2009, had paid attention to red flags that indicated fraud. Freddie Mac claimed that De- loitte's negligence cost the GSE $1.3 billion. Freddie Mac was taken over by the government in September 2008 at the height of the financial crisis, and along with its fellow GSE, Fannie Mae, needed a $188 billion bailout from the government to stay afloat. Taylor Bean, which was once the largest nonbank mortgage servicer in the nation, filed for bankruptcy in 2009. In 2011, Taylor Bean's chair- man, Lee Farkas, was sentenced to 30 years in prison for fraud. CONTINUED ON PAGE 26 VRM Mortgage Services Names New SVP of Compliance VRM Mortgage Services has announced that Tiffany Fletcher has been named SVP of compliance to man- age risk mitigation, compliance, internal audits, quality assurance, and vendor management initiatives. As SVP of compliance with VRM, Fletcher's responsibilities will include creating strategies and directing the implementa- tion of compliance initiatives that are designed to continue the expansion of VRM's lines of business solutions. Auction.com Announces Promotions The nation's leading online real estate marketplace, Auction.com, has recently moved two individuals up within the company—Lee Leslie has been named EVP and chief legal officer, and EVP Gordon Smith has been tapped for the position of general manager in the company's commercial real estate division. Leslie had been serving as interim general counsel for Auction. com for four months. He joined Auction.com in 2014, bringing 20 years of legal and real estate experience with him. Smith has been serving as the head of Auction Finance, the division of Auction.com that facilitates financing for commercial and residential real estate investors. He has 25 years of experience in real estate sales, finance, and operations. Clayton Holdings Hires New COO Thirty-year mortgage industry veteran Jeff Tennyson has joined Clayton Holdings LLC as chief operating officer. Tennyson will be in charge of all of Clayton's business holdings in the United States, including transaction management, consulting, surveillance, commercial due diligence, and green river capital. Tennyson has worked in the financial industry for more than 30 years. Aspen Grove Welcomes New Business Solutions Architect Property-related technology solutions provider Aspen Grove Solutions has announced the hiring of Ron Briggs as the company's business solutions architect. In his new role with Aspen Grove, Briggs will support clients, business analysts, project managers, and technical leads that are focused on multiple projects across the platform. Nationwide Title Clearing Hires New VP of Marketing Post-closing services provider Nationwide Title Clearing, Inc. (NTC) has announced the hiring of Gina Morales, APR, as VP of marketing. In her new position with NTC, Morales will be responsible for creating and implementing effective integrated marketing and public relations programs regarding NTC's mission to protect homeowners and preserve land records. Rosenberg & Associates Promotes Meyer to Partner Rosenberg & Associates LLC, a real estate law firm based in the Washington, D.C., area, has announced the promotion of Senior Associate Mark Meyer to Partner within the firm. Meyer, who has been with Rosenberg & Associates since 2005, practices in the areas of foreclosure, bankruptcy, eviction, real estate, and litigation. Mortgage Contracting Services Welcomes New Assistant VP of Compliance Mortgage Contracting Services (MCS) has named Greg Smith as assistant vice president of compliance in the company's Ruston, Louisiana, office, according to an announcement from MCS. In his new role with MCS, Smith will oversee the quality assurance of quality control functions in Ruston for both field services and valuations for MCS. The Collingwood Group Hires Former FHFA Senior Policy Analyst as VP Longtime housing finance policy expert Bonnie McCloskey has joined Washington, D.C.- based business advisory firm The Collingwood Group as vice president, according to an announcement from the firm. McCloskey will support The Collingwood Group's risk management and compliance and business advisory practices in her new role as VP with the firm. Title365 Welcomes New Senior Executive Lewisville, Texas-based title insurance and escrow services provider Title365 Company has announced the appointment of Aaron Fain to VP, mid-markets originations division manager. In his new position with Title365, Fain is responsible for selling title and settlement services to mid-market originators nationally. He will also handle business expansion and educational training. HomeUnion Welcomes New Asset Management Director HomeUnion, an Irvine, California-based online real estate investment firm, has announced the hiring of property investment management expert Julie Manthey as senior director of asset management. Manthey, has more than 25 years of experience and expertise in investor relations, sales, acquisitions, disposition, receiverships, property repositioning and fund management.

• Cover