Subprime mortgage servicer ""Ocwen Financial Corporation"":http://www.ocwen.com announced Thursday that Steven B. Nesmith has joined the company as SVP and assistant general counsel for strategic and government initiatives.
Nesmith was most recently a partner at Holland & Knight where he served in the affordable housing, financial services, and international trade practice areas. Between 2003 and 2005, he was assistant secretary of the U.S. Department of Housing and Urban Development (HUD), responsible for congressional, intergovernmental, and industry relations.
At Holland & Knight, Nesmith led the firm's U.S. and global efforts to help corporate clients navigate the heightened regulatory environment, legislation reforms, and government contract opportunities related to the Treasury's Troubled Asset Relief Program (TARP), the Federal Reserve, FDIC, HUD, and other agencies.
Paul A. Koches, Ocwen's EVP and general counsel, commented, ""Steven Nesmith has a deep understanding of the mortgage crisis -- and of Ocwen's unique ability and commitment to help homeowners avoid foreclosure while also providing the best possible returns for investors in an exceptionally challenging environment. That understanding, plus his significant experience in housing issues and governmental relations, make him a tremendous asset as we pursue revenue-generating opportunities in both the private and public sectors.""
Nesmith has worked closely with many housing community groups, currently serves on the board of trustees of the National Housing Conference, and was raised in public housing. He is a graduate of The American University and received his law degree from Georgetown Law School, both in Washington. Nesmith will be based in Ocwen's Washington, D.C. office.