From key hires and promotions to new technologies, catch the latest happenings in the industry in this update.
Jeb Hensarling, the former Chairman of the House Financial Services Committee, has joined UBS as the Executive Vice Chairman of its Americas division. He will be based out of Dallas with regional responsibilities across all UBS Americas businesses. In his new role, Hensarling will focus on building and strengthening client relationships.
Hensarling most recently represented Texas's Fifth Congressional District in the US House of Representatives for eight terms (2003-2019). Prior to serving in Congress, he worked in both the financial services and energy industries, and practiced both corporate and real estate law.
"Jeb will work closely with our leadership team, Financial Advisors and bankers to build and strengthen our most important client relationships across our businesses," said Tom Naratil, President, UBS Americas and Co-President, Global Wealth Management. "With a long career in both politics and business, Jeb will be a great addition to our shared efforts to deliver insights and ideas that differentiate UBS in the eyes of our clients."
LRES, a national residential and commercial mortgage services company providing valuations, REO asset management, and HOA solutions for the mortgage and real estate industry, announced Scott Spencer as its Chief Technology Officer. In this role, Spencer will drive efficiencies by delivering technological applications, tools, and services intended to streamline and enhance the company’s current capabilities.
Spencer previously served as VP and Divisional CTO of First American Mortgage Solutions, where he successfully led an IT organization in supporting and driving digital transformation across five separate lines of business. Prior to First American, Spencer held a leadership position at CoreLogic, where he served as a SVP.
“Scott’s experience in IT leadership, enterprise architecture, digital transformation, cloud solutions, as well as analysis and reporting of Big Data will play a crucial role for the growth and expansion of the company. The organization is pleased to welcome him to the executive team,” said Roger Beane, CEO of LRES.
Irvine, California-based LoanScorecard, a provider of nonagency automated underwriting systems has expanded its partnership with Deephaven Mortgage to power IDENTI-FI AUS for Deephaven’s correspondent division. LoanScorecard already powers IDENTI-FI AUS for the mortgage lender's wholesale division.
With this expanded partnership, LoanScorecard’s Portfolio Underwriter technology will power IDENTI-FI AUS, a non-QM point-of-sale/pre-qualification tool, for Deephaven’s correspondent division. IDENTI-FI AUS lets approved correspondent partners run loan scenarios and instantly determine potential options across Deephaven’s non-agency loan programs—allowing them to expand their potential borrower base.
Correspondent lenders can run an AUS findings report on any loan file for a detailed breakdown of Deephaven’s qualification criteria and documentation requirements through this platform.
“We’ve been using LoanScorecard’s technology for the past six months in our wholesale division and have already seen tremendous success helping LOs at the ever important point of sale,” said Mike Brenning, Chief Production Officer at Deephaven. “We’re confident leveraging LoanScorecard’s technology will allow our partners to offer non-QM products that can help them responsibly expand their businesses—and ultimately replicate the success we’ve had in our wholesale division.”
Hladik, Onorato & Federman, LLP has announced that Bradley J. Osborne, Esquire has joined the firm as a Senior Associate. The firm notes that Brad has experience in all phases of default litigation and has handled all aspects of foreclosure, eviction, bankruptcy and collection litigation before the United States District Courts and state courts of Pennsylvania and New Jersey. Brad received his B.S. from S.U.N.Y. College at Brockport and his J.D., cum laude, from Western Michigan University Cooley Law School.
In addition to managing certain key components of the firm’s NJ and PA default cases, Brad will be part of the firm’s expanding capabilities in complex UDAAP and FDCPA defense litigation practice for lenders, servicers and investors.
“We are excited to welcome Brad to the HOF family and look forward to his participation in our continued commitment to providing clients with the highest quality legal representation,” according to partner Tom Federman.