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local edition Or ig i nat ion SERVICING MISMO Committee Elects New Chairman Chase Hits Milestone in Home Donation Program Randy Gilster is taking over the position as Harry Gardner departs. Four years after its start, the bank's revitalization program hits the $250 million mark. s e c on da r y m a r k e t a na ly t ic s Se r v ic i ng Washington, D.C. // The Residential Standards Governance Committee of the Mortgage Industry Standards Maintenance Organization (MISMO) has elected Randy Gilster as its chairman. Gilster, a 20-year financial services veteran, is SVP of business capability development at Wells Fargo Home Mortgage. There, he is responsible for overseeing content management across loan lifecycles as well as strategy and financial reform assessments. Throughout his career, he has held executive roles in business and technology operations, managing origination, servicing, and default solutions. "On behalf of MISMO, I would like to congratulate Randy on his election to chair of the committee," said MISMO EVP Richard Hill. "We look forward to working with Randy to continue evolving the standards to meet the needs of the mortgage industry." As chairman, Gilster will fill the remainder of the term left unfulfilled by the departure of Harry Gardner, who was appointed to MISMO's board of directors. "I'm honored to assume these responsibilities at a time of great transition within the mortgage industry," Gilster said. "MISMO is an incredible asset to the industry and ultimately to the consumers of mortgage credit. As the industry works towards compliance with new regulations and initiatives, MISMO will be an integral part of the solution. We will continue to build on the incredible efforts of those who have contributed to the MISMO standards over the last decade." 48 | The M Report New York // The dollar volume of homes donated or sold at a discount through organizations over the last few years. The numbers average out to about three properties a day. Additionally, Chase pledged in 2011 to award 1,000 mortgagefree homes to military families by 2016. Since then, the company has provided more than 600 mortgage-free homes amounting to more than $62 million. "Chase has a long history and commitment to helping build vibrant communities through The dollar volume of homes donated or sold at a discount through JPMorgan Chase's Community Revitalization Program has crossed the $250 million mark. More than 450 organizations participate in Chase's programs by renovating the homes before donating, reselling, or retaining them for future use. Chase continues to help by conducting post-renovation property inspections, tracking title filing, and ensuring homes are sold within program parameters. "We are very proud of our relationship with JPMorgan Chase," said Lot Diaz, VP of housing and community development for the National Council of La Raza. "Such partnerships, between the for-profit and nonprofit sectors, shows that we all need to work together to further the national effort to stabilize housing in our communities." Carrington Property Services to Manage Expanding Rental Portfolio california // Carrington JPMorgan Chase's Community Revitalization Program has crossed the $250 million mark, the bank announced. Initiated in 2009 as an effort to help customers and communities cope with the housing crisis, the program has seen more than 5,300 properties donated or sold to nonprofit housing a variety of corporate-wide programs," said Ryan Crowley, head of Chase Government and Community Partnerships. "By responsibly donating about three homes a day through this initiative, Chase's efforts have rehabilitated communities, spurred job growth, and provided homes for thousands of low-to-moderateincome families." Property Services announced it is taking over property management responsibilities on rental properties owned by capital management firm Gorelick Brothers Capital. Per the two companies' partnership, Carrington will manage Gorelick's rental portfolio, which is located primarily in seven major urban centers. According to a release, it was Carrington's experience and infrastructure that made the company stand out among all property management firms, as well as its existing management operations in several of Gorelick's expansion target markets. Renee Deane, EVP for Carrington Property Services, said she expects both companies to benefit from the partnership. "Understanding the growing need for a national property management solution that is both tailored to portfolio management and has the ability to manage multiple property managers, we designed Carrington Property Services to be a reliable

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