From community initiatives and technology to new appointments get the latest buzz on the industry in this weekly update.
Fannie Mae [1] recently announced the promotion of John Forlines to SVP and Chief Risk Officer, effective immediately. Forlines will report to the CEO and manage Enterprise Risk Management (ERM). He has been interim CRO since March 2018.
“Today’s promotion reflects my confidence and the confidence of our Board that John is the right person to continue to strengthen Enterprise Risk Management and to lead its drive to become a world-class risk organization,” said Fannie Mae’s CEO Timothy J. Mayopoulos.
Forlines’ experience at Fannie Mae spans over 30 years. Before assuming the role of Deputy Chief Risk Officer in December 2015, he served as Fannie Mae’s SVPt and Chief Audit Executive, and SVP and Chief Credit Officer for the company’s Single-Family division.
Forlines is a certified public accountant and member of the American Institute of Certified Public Accountants. He is also a member of the Risk Management Association and Global Association of Risk Professionals.
_________________________________________________________________
Equifax [2], a global information solutions company headquartered in Atlanta, Georgia, announced it has once again been named to the 2018 IDC FinTech Rankings [3], a comprehensive vendor ranking within the financial services industry. The company has earned a spot on the annual ranking in each of the 15 years the ranking has been produced.
“A place on the IDC FinTech Rankings is a significant accomplishment, demonstrating a provider’s commitment to the success of its financial institution clients,” said Karen Massey, Research Manager at IDC Financial Insights [4]. “The IDC FinTech Rankings, now in its 15th year, is the global industry standard register of financial services tech providers, and we congratulate the 2018 winners.”
_________________________________________________________________
Denver, Colorado-based private real estate investment firm, Guardian Residential [5], announced the closing of its inaugural fund, which is tied to the acquisition of $11.5 million in assets from Dream Finders Homes [6]. In a statement, the company said that it closed a sale-leaseback transaction with Dream Finders Homes on 23 homes across seven states. In the transaction, Guardian purchased model homes from Dream Finders and simultaneously entered into lease agreements allowing the builder to utilize the homes as sales offices for up to three years.
“I couldn’t think of a better partner to close our first deal,” said Dennis Cisterna, CEO of Guardian. “Dream Finders is a top-flight builder, and Patrick’s firm is a great example of the caliber of builder we look to work with to grow our investment profile. In this transaction, Guardian was able to obtain a portfolio of high-quality homes in strong markets with guaranteed revenue that will provide a strong return for our investors. Between our sale-leaseback and SFR build-to-rent platforms, we offer a unique opportunity to homebuilders and investors as we continue to expand our portfolio of residential real estate assets.”
_________________________________________________________________
Old Republic Title [7] has acquired iMarc, Inc., (dba) E-Closing, a software applications and systems development company that provides cloud-based title and closing software for small and mid-size title insurance agencies.
Headquartered in Pembroke, NH, E-Closing has more than 1,500 customers in more than 30 states and is rapidly growing. E-Closing is led by Marc Hall, who has been appointed President of iMarc, Inc. Hall joined E-Closing in 2006. He reports to Marc Rittenhouse, Senior Vice President of Old Republic National Title Insurance Company and Director of Corporate Enterprise Solutions.
“We are excited to welcome our friends at E-Closing to the Old Republic Title family and look forward to E-Closing expanding its national footprint as a result of this acquisition,” says Mark Bilbrey, President, Old Republic National Title Holding Company.