From key hires and industry awards to new technologies, catch the latest happenings in the industry in this update.
The Federal Housing Finance Agency (FHFA) announced on Friday that Sheila M. Greenwood was named Director of External Relations, effective April 29, 2019. Greenwood will oversee the Office of Congressional Affairs and Communications, including stakeholder outreach.
Greenwood brings many years of housing, financial services and government experience to the Agency. Her prior experience includes two posts at the U.S. Department of Housing and Urban Development, serving as Secretary Dr. Ben Carson’s first Chief of Staff in 2017 and as the Assistant Secretary for Congressional and Intergovernmental Relations in a previous administration.
Prior to her arrival at FHFA, Greenwood was a Policy Associate Director at the Consumer Financial Protection Bureau.
“I am pleased that Sheila will be joining me at FHFA. Her management and housing experience are uniquely suited to the mission of FHFA," FHFA Director Mark Calabria said.
Freedom Mortgage Corporation, a full-service, non-bank mortgage companies that specializes in VA and government-insured lending, has received Fannie Mae’s Servicer Total Achievement and Rewards (STAR) Award for the second straight year in General Servicing and for the first year in Solution Delivery.
The STAR Program is a performance management and recognition program that acknowledges companies that demonstrate excellence in mortgage servicing and their ability to assist homeowners. Servicers are measured on the basis of their general servicing performance, roll rates, retention, liquidation efficiency, six-month modification performance and timeline management compared against the performance of other Fannie Mae loans with similar credit characteristics.
“We are thrilled to be recognized by Fannie Mae as a STAR Performer for the second consecutive year,” said Stanley C. Middleman, President Freedom Mortgage. “At Freedom, we are committed to constantly improve our business processes to create great mortgage experiences for our customers and surpass their expectations. I’m extremely proud of our entire servicing team, who deserve the credit for this recognition by Fannie Mae.”
The American Land Title Association (ALTA), the national trade association of the land title insurance industry, has named Diane Tomb as its new CEO, effective July 1.
Tomb, who has over 20 years experience in the housing field, will use her deep advocacy and public policy expertise on behalf of ALTA and its members.
"Diane is a recognized leader who understands the intersection of politics and business and the importance of informed public policy advocacy. She is the right person to lead ALTA and build on its successful legacy,” said Cynthia Durham Blair NTP, ALTA’s President. "Diane was a unanimous selection by the Board, and we expect her leadership and entrepreneurial spirit will immediately benefit our members, demonstrate our value to prospective members and continue ALTA’s tradition of strong advocacy on behalf of the land title insurance and settlement services industry."
Tomb served as the Executive Director of the National Rental Home Council. She also served as President and CEO of the National Association of Women Business Owners. Previously, she served as Assistant Secretary of Public Affairs at the Department of Housing and Urban Development during the George W. Bush administration. In 2003, Tomb founded D.C.-based public affairs and business advisory firm Tomb & Associates LLC. In addition, Tomb was a senior executive at the Fannie Mae Foundation and worked in the White House under Presidents Ronald Reagan and George H.W. Bush.
In another initiative to improve the accuracy of MSR pricing and duration along with extending integration further into capital markets, Compass Analytics added automated loan-level SRP co-issue bids to its library of APIs and bid automation. RoundPoint, located in Charlotte, North Carolina, will private-label Compass’ API and bid-automation offerings to integrate and automate their co-issue bids and commitments to the industry.
Lenders, through their internal systems, hedge advisors or LOS systems can now integrate to RoundPoint to seamlessly receive and commit live co-issue SRPs as part of their best execution processes. Sellers or their partners can employ the same workflow currently employed by the industry for mini-bulk bidding and beginning June 10, will also have the option of integrating into RoundPoint’s BidStream API.
“The new live SRP quoting integration is an exciting leap in automating the best execution experience for the co-issue workflow,” said Mike Duncan, Compass Product Manager. “It’s a win for both the investor, who now has more opportunity to price more granularly and in real-time, and for the seller, who now has a simplified workflow and one that does not require managing complicated pricing grids.”