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 Numerous acquisitions and senior transitions have prompted significant leadership changes for companies throughout the mortgage marketplace. R.J. ARNETT. Taking the reins at ICON Residential Lending as EVP of the company's wholesale business, R.J. Arnett has transitioned from his previous role as EVP of CS Financial, an independent residen- tial and commercial retail mortgage banking firm. Arnett has also worked as a managing director at MortgageIT, a subsidiary of Deutsche Bank, and in various positions at Countrywide Financial. In his newly created posi- tion at ICON, Arnett will oversee the national sales force with a nationwide network of mortgage brokers. RICHARD D. BAUM. Making a change to the company's director- ship, Redwood Trust, Inc., has unanimously elected Richard D. Baum as the new chairman of the board. Baum has been a part of Redwood's board as an independent member since 2001. Most recently, Baum served as Redwood's presid- ing director and chair of the board's governance and nominating commit- tee. In conjunction with the company's directorship changes, Redwood also appointed Douglas B. Hansen as the vice chairman of the board, and like Baum, his new position was confirmed by a unanimous vote. BILL BYNUM. The CEO of Hope Enterprise Corporation/Hope Credit Union (HOPE) has been appointed to a leadership position with the Consumer Financial Protection Bureau (CFPB). Bynum was named the vice chairman of the orga- nization's new initiative, the Consumer Advisory Board. With more than three decades of experience in community development finance, Bynum will assist the CFPB in its efforts to enhance con- sumer finance markets, and Bynum and the other members of the group will play a role in helping create effective regulations. 20 | THE M REPORT RISHI CHADDA. Former Goldman Sachs senior executive Rishi Chadda has moved on to co-found Kingsguard Advisors, L.P. Most recently, Chadda managed a multibillion-dollar propri- etary portfolio while serving as the head of Goldman's liquid products group. Kingsguard, Chadda's new venture, will focus on capitalizing on market opportunities across the entire fixed-income spectrum including the rates, volatility, credit, and mortgage markets. Commenting on establishing Kingsguard, Chadda noted that he's "excited about the opportunity." DOUGLAS C. BLAKE. Walker & Dunlop, Inc., announced Douglas C. Blake as SVP of the company's closing de- partment. According to Walker & Dunlop's recent release, Blake will manage the depart- ment, including all aspects of the loan closing process. Prior to joining Walker & Dunlop, Blake served as the national head of closing and construction loan administration at Berkeley Point Capital, LLC, (formerly Deutsche Bank Berkshire Mortgage). He has also worked in the closing and loan delivery departments at Capri Capital and Aries Capital. TIMOTHY L. BUZBY. The directorship of the Federal Agricultural Mortgage Corporation (Farmer Mac) has appointed a new leader for the company. Naming Timothy L. Buzby as president and CEO, Farmer Mac's board announced that the industry veteran's term was effective immediately. Most recently, Buzby served as Farmer Mac's chief financial officer and treasurer, a role he assumed in 2009. Teaming up with the corporation in 2000, Buzby originally joined the company as Farmer Mac's controller. As president and CEO, Buzby's first order of business will be working with the board of directors to select a new chief financial officer. BRUCE DASHEVSKY. Lending specialist A10 Capital has announced the appointment of a new head of business development for the company's Tri-State market. Adding industry veteran Bruce Dashevsky, A10 is gaining a new leader for development efforts throughout Connecticut, New Jersey, and New York. Previously, Dashevsky has per- formed as an originator of commercial mortgages for companies including Metlife Capital and GE Capital. In his new role for A10, Dashevsky will help support the firm's initiatives in the small- to middle-market mini-perm commercial mortgage business. LESLIE FOSTER. Formerly the president of Rels Title, Leslie Foster will join California-based DataQuick to lead its title operations, following an acquisition deal in which DataQuick expanded its title solu- tion offerings by purchasing Rels. Referring to Foster's executive and title industry expertise, DataQuick's president, John Walsh, said he expects she "will be a great addition to [DataQuick's] leadership team." The real estate analytics company first announced the transaction in September.