heard on the street
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and anti-money laundering regulations, and combat fraud and financial crimes. For more information, visit www.icba.org or www.wolterskluwerfs.com.
Impac announces NYSE Amex listing and acquisition of title and escrow company
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FEBRUARY 2010
MONTANA MORTGAGE PROFESSIONAL MAGAZINE
www.NationalMortgageProfessional.com
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Thursday, June 24, 2010 Friday, June 25, 2010 AAMB welcomes NAMB to beautiful Phoenix! Come see the new NAMB President and the new NAMB Board installation, while participating in some great networking opportunities. State delegates can also participate in the NAMB Delegate Council Meeting.
Phoenix Airport Marriott® 1101 North 44th Street Phoenix, Arizona 85008 USA Rooms are $99 per night, and will be honored at the same rate if you wish to extend your stay.
Hotel Toll-Free: 1-800-228-9290
Visit www.NAMB.org for details.
Impac Mortgage Holdings Inc. has announced that its common stock has been approved for listing and has begun trading on the NYSE Amex under the ticker symbol IMPM. Impac has also announced that the California Department of Insurance approved the company’s acquisition of a title insurance agency and escrow operations. Upon the approval, the company acquired the operations and its offices, effective Dec. 31, 2009. The title insurance company services California and selected national markets and is integrated into the company’s services platform providing more solutions to the mortgage and real estate markets. “The company is excited to once again be a part of the New York Stock Exchange family,” said Joseph R. Tomkinson, chairman and chief executive officer of Impac Mortgage Holdings. “We believe that being listed on the exchange will provide our shareholders more liquidity in trading our stock as well as increased visibility for the company. This accomplishment combined with the completion of the acquisition of the title insurance company is yet another milestone for the company.” For more information, visit www.impaccompanies.com.
Mortgage Professionals to Watch Southwest Securities FSB, the com-
mortgage modification modification. Strategic defaulters suck away bank resources and attention, making it that much harder to service people facing true hardship. At ING Direct, we have over 2,500 modified mortgages on our books. And our re-default rate for loans that were modified six months ago or more is eight percent—substantially lower than the average for government-guaranteed loans of 44 percent to 53 percent and the overall industry average of 25 percent. We, like other banks, are doing our best to keep people in their homes. But the government has to help—not by passing out more dollars, but by bringing some common sense to the rules of the game. The Treasury Department is aiming for three million to four million permanent mortgage modifications by 2012. To get
mercial banking subsidiary of SWS Group Inc., has named V. William Dolan Jr. as president of Southwest’s banking center in Albuquerque, N.M. John Levonick has joined the compliance team of Mortgage Cadence Inc. as chief legal and compliance officer. Michael J. Dirrane has been named executive vice president of sales for PHH Mortgage. Dave Parker has been named vice president of business development for Dorado Corporation. RedVision, a provider of real property research solutions, has announced the hiring of Steve McDonald as director of government partner programs. Wallick & Volk have announced the addition of the following new loan officers to the company’s offices throughout the state of California: Mark Moskowitz, Gloria Stern, Michael Stern, Jose Fuchen, Max Leimgruber and Mercedes Devoe.
Your turn National Mortgage Professional Magazine invites its readers to submit any information, events, passages, promotions, personal or professional occurrences that seem appropriate and/or other pertinent data to the attention of:
Heard on the Street/Mortgage Professionals to Watch column Phone #: (516) 409-5555 E-mail: newsroom@nmpmediacorp.com Note: Submissions sent via e-mail are preferred. The deadline for submissions is the 1st of the month prior to the target issue.
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anywhere close to that number—and to prevent this country from sliding even deeper into a recession—regulators need to modify the modification process. Arkadi Kuhlmann is chairman and president of ING Direct USA. Prior to ING, Arkadi’s experience includes both highlevel corporate and academic positions. He served as president of North American Trust and chief executive officer of Deak International Inc. and held various executive positions at the Royal Bank of Canada. His academic experience includes teaching at the American Graduate School of International Management (Thunderbird) in Phoenix, Ariz., where he was a professor of international finance and investment banking. For more information, visit www.ingdirect.com.