MReport August 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 11 MCROWD Santomassimo has more than 20 years of leadership experience in banking and finance. He joins Wells Fargo from BNY Mellon, where he was CFO since 2018. In addition to leading Finance at BNY Mellon, Santomassimo was responsible for the firm's regulatory relations, en- terprise resiliency office, third-party governance, and other corporate services. "Mike is a strategic-minded CFO with success in building and leading global finance teams that help drive business improvement," Scharf said. "His experience as the CFO of one of the other seven Globally Systemic Important Banks in the U.S. puts him in a unique position to have imme- diate impact on Wells Fargo. He is action oriented and will be an im- portant partner to me and our entire Operating Committee as we move our company forward." Shrewsberry said, "The past 22 years have been rewarding thanks to the talented people I have worked with and the work we have led. It has been my privilege to be surrounded by a dedicated team and some of the brightest minds in financial services. I am proud of the progress we have made and the team we have built, and I have every confidence in the Enterprise Finance team to continue the good work we've begun. I have gotten to know Mike over the last couple of years and recommended him for the job. He is an experienced, well- respected CFO, and I am excited about what he will bring to Wells Fargo." SERVICE PROVIDERS PRATEEK KHOKHAR Civic Financial Services, an institu- tional private money lender, has added financial industry leader Prateek Khokhar as the company's CFO. In his new role, Khokhar will be responsible for overseeing the company's finances and guiding its rapid growth. With nearly 20 years' experience in the mortgage banking industry, Khokhar has substantial expertise in debt and equity capital raising, M&A activity, financial oversight, treasury management, and overall corporate finance. He is a frequent featured speaker at MBA conferences and, in 2018, was recognized by National Mortgage Professional Magazine as being one of the 40 most influential mortgage professionals under 40. Before joining CIVIC, Khokhar served as CFO at American Pacific Mortgage and at Skyline Financial Corp, where he served alongside William J. Tessar, CIVIC's President. "The CFO position at CIVIC was created with Prateek in mind," Tessar said. "Our rapid growth and business strategy requires an extraordinary leader, financial expert, and innova- tive thinker—all qualities I have expe- rienced firsthand from working with Prateek at Skyline. We are delighted to welcome him aboard." "Bill has a clear vision for CIVIC," Khokhar said. "I was instantly at- tracted by the company's culture and values. But it is the energy, talent, and commitment of the CIVIC team to fulfill our vision that inspires me every day. There is a momentum building here that I am proud and excited to be part of." KATHY KWAK Proper Title, LLC, a Palatine, Illinois-based title insurance agency serving the residential and commercial real estate industries, announced it has promoted Kathy Kwak to EVP of Operations and Counsel. Kwak will be responsible for managing Proper Title's processing, closing, and overall operations. "Kathy has done an outstanding job over the years in building trusted relationships with our attorney clients while also fostering a collaborative culture among staff through a team- management style that employees respond positively to," said Joni Meyerowitz, CEO of Proper Title. "Her leadership and vision have success- fully guided Proper Title to being a leader in our industry during the pandemic by quickly adopting new protocols to offer safe and creative closing processes, and her passion for excellent customer service will help position the firm for continued growth. Kathy's experience on all sides of a real estate transaction also brings a unique perspective for managing risk on any title insurance issue." Kwak has been a part of the real estate industry as an attorney or as an underwriting counsel for the past 14 years, with seven years dedicated to the title insurance industry. She joined Proper Title in 2017, rising from Director of Title to Vice President to her new role as EVP. Prior to joining Proper Title, Kwak served as Underwriting Counsel for Near North Title Group and First American Title Insurance Co. Before entering the title industry, she was a senior real estate advisor for the Board of Education of the city of Chicago. "It's an honor to lead a title agency with such an entrepreneurial spirit, es- pecially now," Kwak said. "We swiftly adapted when the stay-at-home order began by offering curbside closings and remote notarizations so we could continue serving our clients with the same level of care and attention while social distancing. In addition to these changes, we also were lucky to find and hire Cobe, who is bringing her enthusiasm and attention to detail to our Loop office." SHAWN STROUD TIM VON KAENEL Fintech company, Sagent, appointed mortgage tech veterans Tim Von Kaenel as Chief Innovation Officer and Shawn Stroud as Director of Information Security. "Tim and Shawn know loan servicing must help homeown- ers protect their largest assets and must help servicers protect the value of MSRs," Dan Sogorka said. "Their experience, energy, and grit will help America's top servicers modernize homeowner engagement and educa- tion while keeping America's housing system safe." As Chief Product Officer for America's fifth largest retail mortgage lender, LoanDepot, as well as point of sale leader Cloudvirga, Von Kaenel helped usher in the digital mort- gage era by bringing push-button, phone-based simplicity to mortgage originations. In this newly created role of Chief Innovation Officer, Von Kaenel will drive Sagent's product vision and M&A to bring that same consumer sensibility to scale mortgage servicing. "Homeowners must be able to manage their entire homeownership lifecycle themselves, plus get smart human advice whenever they want," Von Kaenel said. "After being on the front lines of modernizing origina- tions, it's a natural progression to expand this vision to servicing. Sagent is the right company with the right resources for us to deliver this vision to servicers." Stroud joins Sagent with 25 years' mortgage information secu- rity experience, most recently from Computershare. "As a servicing system of record, Sagent must keep America's largest financial institutions secure and in real-time compliance with real-time policymaking," Stroud said. "This requires a world-class team with scale security and compliance resources. I'm proud to join Sagent's innova- tion, engineering, and policy teams to keep servicers, homeowners, and the American housing system safe." Know someone moving up in the industry? Email us at

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