MReport September 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 13 of 67

12 | M R EP O RT MCROWD GOVERNMENT NAA AWAA TAGOE JOSHUA STALLINGS CHRIS DICKERSON The Federal Housing Finance Agency (FHFA) announced three personnel updates to its executive staff. Naa Awaa Tagoe will serve as the Deputy Director for the Division of Housing Mission and Goals (DHMG), Joshua Stallings will become the Deputy Director for the Division of Bank Regulation (DBR), and Chris Dickerson will continue in his role as Senior Advisor to the Director in a permanent capacity. "As DHMG's Acting Deputy Director, Naa Awaa's decision-making and policy judgment has exemplified the notion that safety and soundness and equitable access to credit are comple- mentary concepts rather than being mutually exclusive," FHFA Director Sandra Thompson said. "Through his previous roles as Examiner-in-Charge for the Boston and Cincinnati Federal Home Loan Banks (FHLBanks) as well as for both Enterprises, I know Joshua has an unwavering commitment to FHFA's mission and will ensure the safe and sound operation of the FHLBanks and Office of Finance. Chris has pro- vided me with extensive subject matter expertise and institutional knowledge. Naa Awaa, Joshua, and Chris bring a wealth of financial regulator experience to the table, and their demonstrated leadership abilities ensure a high level of expertise and commitment to support- ing FHFA's important mission." Tagoe has served as Acting Deputy Director of DHMG since June 2021. Previously she was Principal Associate Director in the Office of Capital Policy within DHMG. Prior to joining FHFA's predecessor agen- cy—the Office of Federal Housing Enterprise Oversight (OFHEO)—in 2003, Tagoe held positions with Bear Stearns and Houlihan Lokey. Tagoe earned her bachelor's degree in elec- trical engineering and her MBA from Stanford University. Stallings is currently Examiner-in- Charge of the Office of Fannie Mae Examinations within the Division of Enterprise Regulation (DER). He assumed his new role as Deputy Director for DBR on August 15, 2022. Previously, he served as the Examiner- in-Charge of the Office of Freddie Mac Examinations, as well as the Boston and Cincinnati FHLBanks. Stallings started his supervisory career with the Office of Thrift Supervision and received a bach- elor's degree in business administration with a focus on economics from the University of Georgia. Dickerson served as FHFA's first Deputy Director of DER upon its founding in 2008. Since then, he has held numerous leadership positions throughout his tenure at FHFA, including Examiner-in-Charge of Freddie Mac and Special Supervision Advisor in DER. Prior to FHFA, Dickerson spent 11 years at OFHEO serving as Director of Supervision and as Chief Compliance Examiner. CISSY YANG Fannie Mae has appointed Cissy Yang SVP and Chief Audit Executive, respon- sible for leading the company's audit strategy, including internal controls, operational processes, and key risks assessments. In her new role, Yang will also serve as a member of Fannie Mae's Management Committee and report to the Board of Directors, as well as the President and Interim CEO. Yang will replace J. Douglas Watt, Fannie Mae's current SVP and Chief Audit Executive, who is set to retire in November of 2022. "We're pleased to welcome an executive with Cissy's impressive background and breadth of experience to Fannie Mae's leadership team," said David C. Benson, Fannie Mae President and Interim CEO. "Her contributions will be essential to maintaining Fannie Mae's strong culture of corporate governance and rigorous internal con- trols. I also want to thank Doug for his leadership and contributions to ensure we have a high-performing Internal Audit function that executes on Fannie Mae's mission with a focus on safety and soundness." With 25 years of experience span- ning both internal and external audit across the financial services sector, Yang has led multi-disciplinary teams and developed effective internal control and audit frameworks across large financial institutions. Yang most recently served as Head of Audit for Investment Banking Fixed Income, U.S. Legal Entities, and Americas Compliance at Credit Suisse, where This month, some of the industry's largest firms welcomed several new hires to expand their operations. Who's moving on and who's moving up in the industry she held various senior roles. Prior to her time at Credit Suisse, Yang worked for PricewaterhouseCoopers and Arthur Andersen. "I'm thrilled to be leading a critical component of Fannie Mae's business strategy and joining such a mission- driven organization," Yang said. "I look forward to partnering with my colleagues across the enterprise and working with the Board of Directors and management to drive Fannie Mae's ongoing audit and key risks assessment strategy in support of a safer and more effective housing finance system." LENDERS SCOTT BRISTOL BRIAN CHICK JOHN LOWE Fairway Independent Mortgage Corporation has added three new executives as part of the company's aggressive expansion of its production group, as Scott Bristol, Brian Chick, and John Lowe have joined the Madison, Wisconsin, and Carrollton, Texas- based, full-service mortgage lender. "We're pleased to welcome Scott, Brian, and John to Fairway, as well as many others," Fairway CEO Steve Jacobson said. "We have increased the number of our origi- nators by 30% over the past year." A year ago, Fairway had 1,864 loan officers on its team, and since then, has added LOs every month, currently employing more than 2,400 LOs nationwide. Bristol joins Fairway as SVP, Sales and Recruiting, most recently with PrimeLending for the past eight years, serving as President from 2014-2017, overseeing a volume increase of $4 billion to $15 billion. As SVP of National Production for Flagstar Bank from 2018- 2021, Bristol helped the lender increase its profitability from $4 billion to $11 billion over that three-year span. Chick will serve as SVP, Area Manager for Fairway. He spent the past 12 years at PrimeLending, most recently as Regional Manager, and his team

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport September 2022