What companies are merging, who’s moving up, and who’s moving on? See some industry highlights in The Industry Pulse.
PennyMac Financial Services, Inc., a specialty financial services firm, announced that as of August 1, former President of the Government National Mortgage Association (Ginnie Mae), Theodore W. Tozer, will join its Board of Directors. Tozer served as President of Ginnie Mae for seven years and managed $1.8 trillion in guarantees of mortgage-backed securities. Ginnie Mae, as a part of the Department of Housing and Urban Development, creates a secondary market to buy and sell residential mortgages. Prior to Ginnie Mae, Tozer served as SVP of Capital Markets at National City Mortgage Company, a member of Fannie Mae and Freddie Mac’s National Lender Advisory Boards, and at the Mortgage Bankers Association of America as Chairman of the Capital Markets Committee. He received a B.S. degree in Accounting and Finance from Indiana University and is a Certified Management Accountant. Overall, Tozer has spent more than 30 years in the financial services industry.
HouseCanary, a modern data analytics company for real estate professionals, recently announced that Dr. Alex Villacorta has joined the team as EVP of Analytics. Previous to this announcement, Villacorta was at Clear Capitol where he created and led the research and housing analytics team.
The American Mortgage Diversity Council (AMDC) welcomed National MI and Wright, Finlay & Zak, LLP to its membership last month. AMDC is an organization focused on shaping the diversity agenda while advancing solutions that support a broad range of diversity initiatives. From supply-chain diversity, to addressing the challenges faced by minority and women-owned businesses. AMDC takes on today’s issues with a refreshing perspective and meaningful insight. “National MI has a keen interest and a strong commitment to promoting multicultural diversity and inclusiveness in the mortgage industry to open up more opportunities for homeownership in the U.S,” the company said upon the announcement.
TransUnion announced that Suzanne P. Clark and Thomas L. “Tom” Monahan have been appointed to its Board of Directors. Clark is currently Senior EVP of the U.S. Chamber of Commerce, focused on strategy, government relations and market innovation in support of the Chamber’s more than 3 million member companies internationally. She previously held senior leadership roles with Potomac Research Group (CEO), Atlantic Media Company (President of National Journal Group) and American Trucking Associations (Chief of Staff). Monahan, 50, was Chairman and CEO of CEB, Inc., a research and analytics firm that provides data and insights to help people work more effectively. In addition, he previously worked at Deloitte and Andersen Consulting. He is a former member of the CEB board and current member of the board of Convergys Corporation. Monahan is also currently a board member of the Peace Tech Lab and the Maret School. Monahan earned a BA magna cum laude from Harvard University and an MBA with distinction from New York University.
TruAssets LLC, a National REO and property preservation service provider, announced Thursday that it is merging with Northsight Management LLC come August 1, 2017. Led by TruAssets’ Steve Johnson as President and Northsight Management’s Josh Sarchet as CEO, they will retain the Northsight Management name. In 2012, Johnson founded TruAssets and quickly grew it into the company it is today, with recognition for its focus on comprehensive customer service. This is similar to Sarchet who founded Northsight Management in 2009 and differentiated the company by its emphasis on efficient technology. The two believe the merger will differentiate the aspects of the business under the new brand, which will be headquartered in Scottsdale, Arizona.