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Default Service Providers Drain Pool of Servicing Executives

Recent executive activity at mortgage service providers

Nov. 5, 2009

By SAM GARCIA


Among mortgage industry service providers, companies that cater to mortgage servicers are the busiest with executive appointments.

Jane Johnson was appointed senior vice president of loss mitigation services at Fidelity National Financial subsidiary ServiceLink, Fidelity announced last month. The 20-year servicing veteran will be responsible for all loss mitigation operations including loan modifications, "HMP outsourcing" and short-sale processing. Johnson had previously worked at a unit acquired by Citi Residential Lending since 1998.

LoanCare, also a Fidelity subsidiary, has a new chief operating officer: Ralph Carrigan. In an Oct. 20 statement, LoanCare said Carrigan, who has more than 30 years' mortgage servicing experience, will oversee sub-servicing.

Carrigan founded AdMor Group and was previously a SunTrust Mortgage executive.

James G. Jones has joined DepotPoint Inc.'s board of directors, a news release yesterday said. The default service provider highlighted the executive's 35-year career that included stints at Citigroup Inc., GMAC and Wells Fargo & Co. Jones has also been on the boards of Bank of America Corp., Residential Capital LLC and VISA-USA.

Another default service provider has a new chief. Patrick Kopins was named president of UTLS Technology Services, parent UnitedTech Lender Services Inc. reported last week. Kopins, who has 20 years of technology experience, previously was COO of bankrupt LandAmerica Financial Group Inc.'s lender services technology division.

Mortgage service provider Clayton Holdings LLC announced Wednesday that it hired Thomas Gere as senior managing director who is responsible for expanding relationships with financial institutions and mortgage bankers.

Gere, who has a "25-year record of effectively solving client business challenges," held senior sales positions in the fixed-income and whole-loan channels at Lehman Brothers and Cohane Rafferty, Clayton said.

Jay Lown will oversee all activities tied to government-related mortgage programs in his new roll as managing director and senior member of the financial institutions group at NewOak Capital, according to a press release Tuesday. He'll also be responsible for developing mortgage and bank advisory solutions.

Lown previously worked at the subprime whole-loan trading desk at UBS, the statement said. He also served as an advisor to the senior deputy director's office at the Office of Thrift Supervision, with a focus on mortgage origination and securitization,

"Noteworthy assignments included participating in the creation of the Obama administration's 'Making Home Affordable' modification program," NewOak said of his time with the OTS.

Angela Desmond has joined Corporate Risk Advisors LLC as managing director, according to an Oct. 29 statement. Desmond previously worked as chief of staff for the chairman of the Public Company Accounting Oversight Board and was also an officer with the Federal Reserve Board.

Desmond's appointment followed Mark W. Olson's September appointment as the Washington, D.C.-based consulting firm's co-chairman.

Title insurance technology provider NexGen Compliance Solutions LLC hired Cheri Shine as director of strategic partnerships, an announcement last month indicated. Shine previously worked at "one of the nation's top lenders where she managed a network of service providers."


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

e-mail:
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