DS News - Digital Archives

» VISIT US ONLINE @ DSNEWS.COM Movers & Shakers where can be a tough task, which is why DS News highlights those people in the industry who are making things happen. Got something to share with us? Send it to Editor@DSNews.com. One thing's for certain: The default industry doesn't sit still. Keeping up with who's doing what and who went RES.NET Expands Executive Team RES.NET recently welcomed Angela Hurst as SVP of business development. Hurst is responsible for managing and growing the company's national sales team. She has more than 25 years' experience in mortgage banking, title insurance, and closing services. Prior to her role at RES.NET, Hurst was SVP of business development at NDeX, L.P., and Barrett Daffin Frappier Turner & Engel, LLP. Ajay A. Patel was named director of software development. He will manage the company's software and database development teams, while providing technical direction for database design and technologies. Prior to accepting the director position with RES.NET, Patel was a development manager for Equator. He has over 15 years' experience in software development, architecture, and project management. Digital Risk Taps Former Fannie Mae Exec for EVP Position Digital Risk announced that former Fannie Mae officer Gary Manfredi joined the company as EVP of client solutions. Prior to his role as VP of customer management at Fannie Mae, Manfredi worked on the fixed income residential trading desk at Morgan Stanley, where he was part of the team that designed, built, and implemented the firm's mortgage conduit. Platinum Data Appoints Two Board Members Platinum Data announced the appointment of two industry veterans to its board of directors: J. Hunter Atkins and John LaMacchia. Atkins has spent 35 years in the banking industry and is chairman of Bank of Nashville's board of directors. He also serves as chairman of Ways to Work, a Community Development Financial Institution. Formerly, he was city president for Birmingham-based AmSouth Bank. John LaMacchia previously served on the board of directors at eLynx Ltd. with Platinum Data CEO Phil Huff. He was also a director with Tellme Networks and the company's CEO and chairman from 2001 to 2007, during which he developed the business from pre-revenue to nearly $100 million in sales. Since 1990, LaMacchia has been a member of the board of directors for the Kroger Co. CoesterVMS Hires New SVP of Operations CoesterVMS has hired 20-year industry veteran Robert Chasteen to lead the company's operations as SVP. Chasteen is responsible for growing the company's market position as an appraisal management company and mortgage technology innovator. Prior to working with Coester, he was production manager at First Choice Bank. Hopp Law Firm Brings on New Staff The Hopp Law Firm, LLC, announced Aaron Boneau signed on as the firm's operations manager. In his position as part of the Hopp Law management team, Boneau oversees day-to- day operations of the firm's mortgage default areas. He joins the firm with more than 20 years of mortgage servicing, creditors' rights, and default/collections experience. Most recently, he worked for Fannie Mae. Stacy Stein, Esq., joined the firm's Colorado team as managing attorney for the asset recovery group. She oversees day-to-day operations for Hopp's national collections practice. Before joining the firm, she spent more than 11 years developing, running, and improving legal collection departments at various law firms. Stein earned her Juris Doctor from the University of Denver School of Law. Matt Martin Exec Assumes Chair-Elect Position on AREAA Board Ivan Choi, SVP of Matt Martin Real Estate Management (MMREM), was elected to join the board of directors of the Asian Real Estate Association of America as incoming chair-elect. Choi has 15 years' leadership experience in lending and servicing, serving MMREM and its affiliate, Sperlonga Data & Analytics, and sitting on the REOMAC board of directors. First Valuation Promotes Supervisor to National Sales Executive First Valuation promoted Jacob Bohan to national sales executive, managing existing client relationships and creating partnerships for the company. Prior to joining the sales team, he was supervisor of First Valuation's commercial real estate division. He has five years' experience in the real estate industry, specifically with valuations, sales data analysis, and commercial real estate. CONTINUED ON PAGE 52 Homeownership Rate Edges Up After 15-Year Low, Vacancy Rates Fall for the Five Star Institute The nation's homeownership By Mark Lieberman, Economist rate rose to 65.5 percent in the second quarter, the Census Bureau reported in late July. The Census Bureau also revised downward the homeownership rate for the first quarter to 65.4 percent (from the originally reported 65.5 percent), the lowest since the first quarter of 1997 when the rate was also 65.4 percent. Homeownership peaked at 69.2 percent in the second quarter of 2004. The rate measures the proportion of households owning their primary residence, computed by dividing the number of owner- occupied households by the total number of occupied homes. The Census Bureau also reported the homeowner vacancy rate fell to 2.1 percent nationwide, down from 2.2 percent in the first quarter and 2.5 percent one year ago. The homeowner vacancy rate is at its lowest level since Q1 2006. The rental vacancy rate dropped to 8.6 percent from 8.8 percent in the first quarter and from 9.2 percent in Q2 2011. The rental vacancy rate fell to its lowest level since Q2 2002. The homeowner vacancy rate is the proportion of the homeowner inventory that is vacant or for sale. The rental vacancy rate is the proportion of the rental inventory that is vacant or for rent. According to the quarterly report, the number of housing units in the second quarter increased by 486,000 from a year ago to 132,718,000, about 14 percent of which were vacant. The number of units for sale fell to 1,595,000 in Q2 2012 from 1,959,000 in Q2 2011, a drop of 364,000. The number of housing units held off the market increased 265,000 over the year-long period to 7,612,000. At 69.6 percent, the highest CONTINUED ON PAGE 52 51 homeownership rate in the second quarter was in the Midwest, up from

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