TheMReport — News and strategies for the evolving mortgage marketplace.
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WENDY E. KAMENSHINE. The Consumer Financial Protection Bureau (CFPB) has a new ombuds- man in Wendy E. Kamenshine. Her appointment to the position follows her previous service as the group's acting ombudsman, an office she created at the CFPB. Kamenshine comes into her new role with experience as the senior ombudsman for the Department of Homeland Security's Citizenship and Immigration Services Ombudsman's Office. JOHN LAMACCHIA. Platinum Data has appointed John LaMacchia as one of two new members of the company's board of directors. LaMacchia became acquainted with Platinum's CEO, Phil Huff, when both men were members of the board of directors for eLynx, Ltd. Currently, LaMacchia is a director for The Kroger Co., where he has been a member of the company's board since 1990. In an official statement, Platinum noted that it hopes to capitalize on LaMacchia's leadership "during the next phase of its growth and expan- sion." CLIFFORD ROSENTHAL. Previously the presi- dent and CEO of the National Federation of Community Development Credit Unions, a nonprofit organization for credit unions that serve low-income areas, Clifford Rosenthal has taken on the role of assistant director of finan- cial empowerment for the Consumer Financial Protection Bureau (CFPB). The group's director, Richard Cordray, noted that the organization is striving to leverage "the collective expertise of our dedicated senior staff to better serve consumers." DAVID S. WILLENZIK. In Louisiana, Jones Walker is welcoming a new hire in its New Orleans office. The law firm has appointed David S. Willenzik as special counsel for Jones Walker's operations within the lending and financial vertical. In his new role, Willenzik will serve as counsel for the organization's business and financial institutions practices, as well as its banking and financial institutions practices. Specifically, Willenzik will focus on commercial finance, con- sumer finance, project finance, and asset-based lending. DAVID NOBLE. To facilitate the open- ing and growth of its new Orange County, California, branch, WFG Title has hired David Noble as senior vice president for the region, and Noble will be responsible for leading the company's expansion efforts in the area, as well as overseeing strate- gic development and day-to-day operations. WFG Title's executive vice president, Morgan Harris, stated, "By delivering a superior level of service, we believe David and our Irvine team will command a powerful presence in the California marketplace." GARRY REEDER. Formerly the senior ad- visor to the deputy di- rector at the Consumer Financial Protection Bureau (CFPB), Gary Reeder will replace Meredith Fuchs as acting chief of staff for the CFPB, as Fuchs assumes a new role as the CFPB's general coun- sel. Commenting on the personnel changes within the organization, the CFPB's director, Richard Cordray, said, "I am very pleased to announce these updates to the CFPB leadership team." Editor@TheMReport.com. Presidency in Peril SunTrust Mortgage appointed a new president in May, with industry veteran David H. Stevens expected to assume the leadership role on July 16, but as the deadline approached, Stevens surprised the company and the marketplace by announcing the reversal of his decision in favor of remaining with the MBA. The Mortgage Bankers Association (MBA) will get to keep its current president and CEO, David H. Stevens, following his seemingly sudden decision to forgo a new position as president of SunTrust Mortgage. In May, SunTrust had announced that Stevens would join the company on July 16, but Stevens changed his mind after considering the state of the industry, according to an official statement released by the MBA. "The past few weeks have been extremely difficult for me personally and professionally. After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association," stated Stevens. "Frankly, at the end of the day, stepping away right now, when so much progress is being made and so much still left to be done, did not feel right." "Going through this experience left me encouraged by the tremendous opportunity that lies within our industry and reinforced the essential compo- nent mortgage finance will continue to play in helping our nation's economy recover," he added. When the company originally hired Stevens, SunTrust anticipated making him responsible for all day-to-day operations including overseeing sales, produc- tion, and fulfillment. Going public with news of Stevens' impending move to SunTrust, the lender's CEO, Jerome Lienhard, noted, "David Stevens is a high-caliber leader, profes- sional, and individual. His subject-matter knowledge and leadership abilities are well known, as is his tireless commitment to our industry." Following SunTrust's announcement, MBA's chairman, Michael Young, spoke glowingly of Stevens' accomplishments, calling him "an exceptional leader for MBA." The planned move would have seen the trade group on a new search for its next president, while Stevens, a former Federal Housing Administration com- missioner, tackled his new post with SunTrust. SunTrust has yet to release information regarding a potential replacement for Stevens. Meanwhile, SunTrust will be focused on welcoming two additional lead- ers, having recently named Jack Wixted as its EVP of mortgage strategy and Peter E. Mahoney as an EVP and chief risk officer. Know someone moving up in the industry? email us at THE M REPORT | 21