TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1108750
12 | TH E M R EP O RT MCROWD 12 | TH E M R EP O RT GOVERNMENT HUGH R. FRATER STERGIOS THEOLOGIDES Fannie Mae has announced two major new appointments: Hugh R. Frater has stepped in as the GSE's new CEO, while Stergios "Terry" Theologides has been named EVP, General Counsel, and Corporate Secretary. Jonathan Plutzik, Chair of Fannie Mae's Board of Directors, said, "Hugh's deep understanding of the housing and the financial services industries, broad experience, and strong leadership skills make him an ideal choice to lead Fannie Mae." In a statement, Frater said, "The Fannie Mae of today is customer-focused, innovative, and committed to leading a housing finance system that is safe, sound, and sustainable for taxpayers and creditworthy borrowers of all income levels." Speaking of Theologides, Frater said, "Terry joins the Fannie Mae leadership team with an impressive background of legal and management experience, combined with a broad and deep understanding of the mortgage, real estate, and financial services sectors." DAVID M. BRICKMAN Freddie Mac an- nounced that Donald H. Layton will retire as CEO and that the Board of Directors has appointed David M. Brickman to succeed him. Brickman will become a member of the Freddie Mac Board of Directors at that time. Sara Mathew, Chair of Freddie Mac's Board of Directors, said in a statement "Don has been a remarkable leader during a period of tremendous change at Freddie Mac, and on behalf of the board and the company, I would like to thank him for his outstanding leadership over the last seven years." Layton said, "David is a proven business builder, having taken Freddie Mac's multifamily business to the preeminent position in that market. In all his work, he demonstrates a passion for the business, the mission and the people of Freddie Mac. Everything I have seen during his tenure as President has convinced me that David is the right choice to serve as the next CEO and take Freddie Mac forward." LENDERS AND SERVICERS SUDHIR NAIR LoanCare, a ServiceLink Company, has named Sudhir Nair as its new EVP and CIO. Nair, who has nearly two decades' experience in the mortgage and consumer lending sector, will be responsible for planning, organizing, optimizing, and managing the overall operation of LoanCare's IT department. He will also provide strategic leadership to ensure operational services are supported in a timely and cost-effective manner. "We are excited to have Sudhir join our executive team. Given his expertise, we're confident that he will help take our business to the next level," said Dave Worrall, President of LoanCare. "We are committed to inno- vation and providing the best digital mortgage experience for our customers and clients, and we look forward to seeing how Sudhir can position us for the future." C. ALLEN PARKER Less than three years into his tenure running the bank, Wells Fargo CEO Tim Sloan has announced he will retire at the end of June. Wells Fargo General Counsel C. Allen Parker will serve as interim CEO and President while the bank searches for a long-term replacement. "In my time as CEO, I have focused on leading a process to address past issues and to rebuild trust for the future," Sloan said in a statement. "We have made progress in many areas and, while there remains more work to be done, I am confident in our leadership team and optimistic about the future of Wells Fargo." He added that his resignation came in part because "our ability to successfully move Wells Fargo forward from here will benefit from a new CEO and fresh perspec- tives. For this reason, I have decided it is best for the Company that I step aside and devote my efforts to supporting an effective transition." BRIAN A. SIMON Lenders One Cooperative, a national alliance of independent mortgage bankers based in St. Louis., announced the appointment of Brian A. Simon as its new President. In this role, Simon will be responsible for the day-to-day operations and strategic execution of the cooperative. Simon joins Lenders One with over 20 years' mortgage experience and was most recently the President of Thrivest Legal Funding, LLC, a full-service litigation funding company. "Brian brings deep industry experience to Lenders One as a seasoned mortgage banker and entrepreneur," said William B. Shepro, CEO at Altisource and member of the Board of Directors at Lenders One. "His vision and leadership in managing large mortgage organizations through economic cycles will help Lenders One leverage the power of its 230+ lender members and solution providers to compete and win." CHRISTOPHER TREECE Gateway Mortgage Group, a full-service mortgage company licensed in 40 states and the District of Columbia, announced Christopher Treece as CFO. Treece will oversee all aspects of the company's finance and accounting functions including financial reporting, accounting operations, funding, deposit operations, and asset liability management. Treece joins Gateway having worked in both public accounting and for bank holding companies. Previously, he was the CFO for Guaranty Bancorp in Denver. "Gateway is an amazing company, and I'm thrilled to join a powerhouse executive team," Treece said. "The ongoing success of the company provides a ton of momentum and the path for opportunity is significant. Gateway is full of driven professionals who live out the company's core values, and I am eager to help the company reach more customers with modern financial solutions." SERVICE PROVIDERS MICHAEL JACKMAN California-based ComplianceEase, a provider of automated compliance solutions for the financial services industry has hired Michael Jackman as CEO. Jackman will be responsible for setting the company's overall vision and strategy, as well as expanding partnerships, broadening government outreach and establishing ComplianceEase as a leader in GRC This month, some of the industry's largest companies saw significant changes to their corporate lineups. Who's moving on and who's moving up in the industry