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The Industry Pulse: Updates on LRES, Black Knight, and More

From rewards and recognition to new appointments and initiatives, get the buzz on the industry's latest news in this weekly update.

LRES Corporation, a residential and commercial real estate services company based in Orange, Calif. that provides nationwide valuations, REO asset management, and HOA solutions for the mortgage and real estate industry, announced the promotion of their chief strategy officer Mark R. Johnson to the role of the company’s President. “Since joining LRES just over a year ago, Mark has proven himself to be a forward-looking and visionary leader,” said Roger Beane, CEO of LRES. “In that year, he has greatly distinguished himself by propelling the company forward in both our strategy and direction. His passion to improve the valuation industry through efficient workflows and advanced data science will influence our corporate objectives and initiatives as we enter the next phase of our growth.” As chief strategy officer at LRES, Johnson implemented actionable strategic priorities based on changing market conditions, evolving technical advances, and his understanding of the industry’s competitive landscape. He spearheaded numerous core company initiatives that Beane describes as “transformative”, while also developing the company’s business partnerships in order to position LRES for continued growth.

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Delaware-based Black Knight Inc, a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital market verticals, has announced that its indirect subsidiary, Black Knight InfoServ, LLC (BKI), a Delaware limited liability company entered into an amended and restated senior secured credit facility, comprised of a $1.25 billion five-year senior secured term loan A facility and a $750 million five-year senior secured revolving credit facility. The Facilities will reduce borrowing costs and enhance financial flexibility and liquidity. The proceeds of the Facilities were used to repay in full the indebtedness outstanding under the previous senior secured credit facility, and pay associated fees and expenses. The Facilities are guaranteed by BKI’s indirect subsidiary, Black Knight Financial Services (BKFS), the Borrower and certain of the Borrower’s existing and future domestic subsidiaries and are secured by substantially all tangible and intangible assets of BKFS LLC, the Borrower and certain of the Borrower’s existing and future domestic subsidiaries.

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John Czwartacki has transitioned from the Office of Management and Budget (OMB) to the Bureau of Consumer Financial Protection (CFPB) as its Chief Communications Officer and Spokesperson. His 30 years of experience in public and private sectors will now be applied full time at the Bureau as it fulfills its statutory mission. Czwartacki has been at OMB from the earliest days of the administration and was detailed as a Senior Advisor at CFPB by Acting Director Mick Mulvaney upon his appointment to the dual roles last November. With the transition of Czwartacki to CFPB, he joins the team in their mission to prepare for the yet-unnamed permanent director and create a more effective, efficient, and accountable actor within the federal government and on behalf of the American people, according to the CFPB’s release. “It has been my pleasure to work alongside an extremely talented communications team both at OMB and in the West Wing. I look forward to continuing my service, alongside Mick Mulvaney and his tremendous staff, for the foreseeable future. We have lots of work ahead of us,” Czwartacki said.

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Kerry McInerny

William Tate

Atlanta-based McCalla Raymer Leibert Pierce, LLC (MRLP) recently announced that Kerry McInerney has joined as Managing Partner of the firm’s Alabama and Mississippi Litigation and Trial Practice Group. The firm also announced that William Tate, previously a partner in MRLP’s Commercial Litigation Group, has been named Managing Partner of MRLP’s Georgia Litigation and Trial Practice Group. McInerney and Tate will manage teams of experienced litigators handling a variety of complex matters. They will also join the firm’s Management Committee. “Kerry and Will bring a vast amount of experience, goodwill, and enthusiasm to their Groups. We are extremely pleased they are assuming these new leadership roles at the firm," said Marty Stone, Managing Partner, and CEO at MRLP. "The addition of Kerry and Will to the Management Committee adds undeniable depth and bench strength showcasing the firm’s commitment to both growth and quality of litigation services in Alabama, Mississippi, and Georgia.” Kerry McInerney brings over 22 years of litigation experience with him to the firm. Before joining McCalla, McInerney was a shareholder with Sirote & Permutt, P.C., where he handled complex lender and servicer liability cases and served as co-chair of that firm’s Mortgage Litigation Group. Tate began his legal career as an associate in the creditors’ rights group at Morris, Manning & Martin in Atlanta in 2009. Tate joined MRLP in 2013 as a senior associate in the Commercial Litigation and Transactions Group and was named a partner in that group in 2016. Tate has extensive experience in Georgia foreclosure confirmation law and enforcement of debt instruments.

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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