TheMReport — News and strategies for the evolving mortgage marketplace.
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local edition Or ig i nat ion SERVICING "We are committed to increasing the transparency of the mortgage loans backing Ginnie Mae securities. Improving our securities disclosures helps us attract global capital." a na ly t ic s Se r v ic i ng —Ted Tozer. Ginnie Mae s e c on da r y m a r k e t Ginnie Mae Releases Loan-Level Data releasing a monthly disclosure file for all existing, active single-family MBS by the end of the year. The mortgage guarautor makes a move to increase transparency in its business. Thirty-Year Mortgage Veteran to Lead ASI Washington D.C. // Ginnie Mae has released loan-level data for newly issued single-family mortgage-backed securities (MBS), the company announced. The loan-level disclosure file will contain 36 data elements, including information regarding borrowers' debt-to-income ratios and credit scores. Data will be released on a daily basis. "We are committed to increasing the transparency of the mortgage loans backing Ginnie Mae securities. Improving our securities disclosures helps us attract global capital," said Ginnie Mae president Ted Tozer. "It also ensures alignment with industry best practices and allows us to more effectively meet the needs of our investors so that they can make informed investment decisions." The company anticipates adding to its loan-level disclosure by 42 | The M Report Scott French takes the captain's chair as the company's new president. Florida // Scott French has joined Auction Services International (ASI) as president. French has 30 years' business experience to his name. In the past, he has worked as a CPA for an audit advisory firm with a focus on real estate-based financial institutions, held VP positions in the mortgage default divisions of two international financial firms, and served in SVP positions with organizations focused on real estate sales and related services. At ASI, he will partner with founder Jon Rice and CEO Mike Rice to bring additional focus on strategic direction and business development. "We are thrilled to have Scott join our team," Jon Rice said. "Scott and I have worked together on and off since 1990. He has a great understanding of how critical ASI's auction model can be to the auction strategy of financial institutions with REO portfolios of any size and geographic distribution. I look forward to a great partnership." Allstate Appraisal Hires National Chief Appraiser Scott Sparks now heads up appraisal issues on the residential side. illinois // Allstate Appraisal, L.P., announced the hiring of new national chief residential appraiser Scott Sparks to oversee business development, client relationship management, and the company's Residential Quality Control Divisions. Along with being a Certified Residential Appraiser in Kentucky and Ohio, Sparks has been involved in many aspects of the appraisal industry for the last 25 years. Prior to joining Allstate Appraisal, he led the appraisal division of Fifth Third Bank, where he oversaw and managed appraisal quality and training. He has also worked for Provident Bank and US Bank. Prior to beginning his career in the lending environment, he co-owned an appraisal company with his father. "We are very excited to welcome Scott to our team; we believe the addition of Mr. Sparks, with his well-recognized commitment to the appraisal industry, will further enhance our industry reputation as one of the top-performing AMCs [appraisal management companies], where quality and service remains the centerpiece of our entire business model," said Allstate Appraisal EVP Steven S. Albert, MAI, SRA. "I'm looking forward to joining a longstanding firm with such a solid reputation, the opportunity to continue delivering the high level of quality and service that Allstate is known for, and to constantly seek ways to improve upon them," Sparks said.