MReport October 2020

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8 | TH E M R EP O RT MCROWD GOVERNMENT DEBRA CHEW The FHFA announced that it has appointed Debra Chew as the new Director for the Office of Equal Opportunity and Fairness (OEOF). The FHFA last January created the OEOF in an effort, according to the administration, "to elevate the importance of Equal Employment Opportunity (EEO), Alternative Dispute Resolution, and anti-harass- ment functions within FHFA and reaffirm FHFA's commitment to a workplace free of harassment and discrimination." Chew, a 25-year veteran practitio- ner in EEO, diversity, and civil rights, came to FHFA from the National Institutes of Health (NIH) where she served as the Director for the Office of Equity, Diversity, and Inclusion since 2012. Prior to NIH, Chew held similar equality-focused leadership positions at the Internal Revenue Service and the Food and Drug Administration (FDA). While at the FDA, Chew was awarded the Health and Human Services Award for Excellence in Management, the highest award for leadership at the Department. She is a licensed attorney who practiced in the areas of employment discrimination and medical malprac- tice defense both for governmen- tal and private entities. Chew is a graduate of the University of Virginia and received her law degree from American University, Washington College of Law. In its annual report to Congress last April, the Federal Housing Finance Agency (FHFA) reported that its minority and female worker population increased in 2019. (The total number of minor- ity women rose to 24.24% as of December 2019 from 23.43% in 2015.) Of the 45 employees hired in 2019, minorities and women represented 51.11% and 44.44%, respectively. The topic of diversity and inclusion has been garnering more attention in 2020, and the House Financial Service Committee held a hear- ing last February to review data on diversity and inclusion with banking institutions in the U.S. LENDERS/SERVICERS JENNIFER FOLK National mortgage lender Sierra Pacific Mortgage announced the hiring of Jennifer Folk as VP/Division Manager—Western TPO. Folk started her mortgage career in 2002 at Nationwide Lending and has held numerous leadership positions over the last two decades. Prior to joining Sierra Pacific, Folk was the SVP of National Fulfillment for Planet Home Lending, LLC. Folk has also served as SVP of Strategic Planning at Eagle Home Mortgage and spent more than four years in operations at Stearns Lending. "Jennifer brings an exceptional amount of talent and experience to our organization with a broad understanding of the loan manufac- turing process and how to success- fully integrate technology and people to create an incredible customer experience," said Jay Promisco, Chief Production Officer. Susan Roy, SVP of National Operations, said, "In addition to her work ethic, expertise, and leadership, Jennifer fits perfectly into the ONE Sierra Culture and will help Sierra Pacific Mortgage accelerate growth in the TPO space." In her new role with Sierra Pacific Mortgage, Folk is responsible for leading Sierra's best-in-class Western TPO Fulfillment team while helping modernize and improve the new bro- ker experience for both partners and Account Executives. JANE FRASER Citigroup has announced the appointment of Jane Fraser as its next CEO, succeeding Michael Corbat following his retirement February 2021 after eight years at the helm. With this an- nouncement, Fraser makes history as 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 the first woman to be named chief executive of a major Wall Street bank. Fraser has served as Citi's President and CEO of Global Consumer Banking since 2019 and is responsible for all of Citi's consumer businesses in 19 coun- tries, including mortgages and retail banking. From 2015 to 2019, she was CEO of Citi's Latin American region, and from 2013 to 2015 she was CEO of its U.S. Consumer and Commercial Banking and CitiMortgage. Earlier in her Citi career, she was CEO of the company's Private Bank and Global Head of Strategy and Mergers & Acquisitions. Prior to joining Citi in 2004 in the Corporate and Investment Banking division, she was a Partner at McKinsey & Company. The Scottish-born Fraser began her career at Goldman Sachs in the Mergers & Acquisitions department in London and then worked for Asesores Bursátiles in Madrid. "I am honored by the Board's decision and grateful to Mike for his leadership and support," said Fraser in a statement released by Citi. "The way our team has come together dur- ing this pandemic shows what Citi is made of. Our balance sheet is strong and our commitment to serving our clients and communities is even stronger. "I will do everything I can to make all of our stakeholders proud of our firm as we continue to build a better bank and improve our returns," she added. "We will invest in our infra- structure, risk management and con- trols to ensure that we operate in a

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