TheMReport

August 2012

TheMReport — News and strategies for the evolving mortgage marketplace.

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MCROWD Meet the Industry's MCrowd WHO'S MOVING ON AND WHO'S MOVING UP IN THE INDUSTRY Scandals, leadership shakeups, and surprising decisions have made this month's MCrowd national news. MARCUS AGIUS. Barclays' chairman Marcus Agius is step- ping down following news of an impend- ing scandal for the company. Accused of manipulating interbank lending rates starting as early as 2007, Barclays was fined £290 million (approximately $450 million) by British and U.S. au- thorities for manipulating the London Interbank Offered Rate (Libor). The Barclays board will commence the search for a successor immediately, and Agius, who called his actions "unacceptable standards of behavior within the bank," will remain in his post until a successor is found. CAMILLE BUSETTE. A former senior fel- low at the Center for American Progress, Camille Busette has been added as the Consumer Financial Protection Bureau's (CFPB) as- sistant director of financial educa- tion. Busette joins a slew of new appointees for the CFPB, with the group recently naming numerous new leaders from diverse sectors of the finance, housing, and mortgage industries; the CFPB's recent hires include professionals from banking, legal, and political backgrounds. STEVEN L. ANTONAKES. Replacing Paul Sanford as the chief of staff for the Consumer Financial Protection Bureau's (CFPB) large bank su- pervision unit, Steven L. Antonakes is joining the organization's leadership lineup. Antonakes previously served as the assistant director of large bank supervision, and prior to joining the CFPB, Antonakes filled several managerial banking positions and served as the commissioner of banks from 2003 to 2010. Sanford will now assume the role of acting assistant director of large bank supervision. ROBERT T. CHASTEEN. Appointing a new SVP of operations, CoesterVMS has hired industry veteran Robert T. Chasteen to fill the leadership position. Prior to teaming up with Coester, Chasteen was the production man- ager for First Choice Bank. Chasteen will head up Coester's implementation and enforcement policies for customer care, and the company also noted he is "charged with ensuring the highest performance and customer service levels across all of the company's departments." HUNTER ATKINS. Welcoming two new directors, Platinum Data has added Hunter Atkins to the company's board. Atkins is currently the chairman of the board for Bank of Nashville, and he is a veteran of the banking industry, with more than 35 years of service. "Platinum Data is in the eye of the storm. The entire industry's focus is on quality in collateral valuations," stated Atkins. "I'm pleased to be working alongside some of the industry's brightest and most innova- tive minds, as we guide the company toward capitalizing on the massive op- portunity that's in front of us." ADINA ERRIDGE. Landmark Mortgage Group has added a new advisor to its roster of lending and real estate professionals. The com- pany recently promoted Adina Erridge to mortgage advisor from her previous role as a produc- tion assistant. Following her promo- tion, Erridge will serve as Landmark's in-house lending representative for Legacy Real Estate in Pleasanton, California. Landmark called the deci- sion representative of "its commitment to support Tri-Valley area Realtors by hiring mortgage advisors with strong financing backgrounds and placing them in house." 20 | THE M REPORT DAVID A. BURT. Multifamily and commercial lender CWCapital has added a new senior vice presi- dent. The company recently announced the addition of David A. Burt as CWCapital's SVP within its small balance, multifamily program. In his new role for the company, Burt will be responsible for originating and structuring loans through the plat- form. According to a statement from CWCapital, the division in which Burt will serve extends a variety of Fannie Mae products "designed specifically for multifamily loans up to $5 million." MEREDITH FUCHS. The Consumer Financial Protection Bureau (CFPB) has named Meredith Fuchs as the group's general counsel. Fuchs has previously served as principal deputy general counsel and chief of staff at the CFPB and has been a part of the bureau since 2011. Fuchs takes on the role as general counsel following the departure of Len Kennedy, who's vacating the position to serve as senior advisor and counselor to CFPB Director Richard Cordray.

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