Notable mortgage industry hires and promotions, Aug. 8-12

Fannie Mae appointed Cissy Yang as senior vice president and chief audit executive, effective Sept. 12. In this role, Yang will be a member of Fannie Mae’s management committee and assume responsibility for leading the company’s audit strategy, including internal controls, operational processes and key risks assessments. With 25 years of experience spanning both internal and external audit across the financial-services sector, Yang most recently served as head of audit for investment banking fixed income, U.S. legal entities and Americas compliance at Credit Suisse, where she held various senior roles. Prior to her time at Credit Suisse, Yang worked for PricewaterhouseCoopers and Arthur Andersen. She holds a bachelor’s degree in management from the University of International Business and Economics in China and an MBA from St. John’s University in New York.

Cenlar FSB announced that Dave Applegate has been appointed chairman of the board of directors. In addition, executive vice president and chief operating officer Rob Lux has been named co-CEO, along with Jim Daras, who also will serve as president. Applegate, who has been a member of the board since 2020, has more than 30 years of experience in residential real estate, mortgage banking and housing finance. He was previously the CEO for Common Securitization Solutions. Prior to that, he was CEO of various industry-leading organizations, including Homeward Residential, Radian Mortgage Insurance, and GMAC Mortgage and Bank. Daras has more than 40 years in the banking and mortgage banking industries. He was with Cenlar from 1985 to 1990, returning to Cenlar in 2015 as executive vice president and chief risk officer. In 2019, he moved to an advisory role at Cenlar before joining again full time in 2022 as executive vice president to manage the company’s banking functions. Lux also has more than 30 years of experience in financial services, mostly in the mortgage industry. He joined Cenlar in 2017 as  chief information officer and was appointed executive vice president and chief operating officer in 2019. Before joining Cenlar, he was executive vice president and CIO at Freddie Mac for seven years.

Angel Oak Home Loans hired Daniel Sheehy as a senior correspondent account manager to help lead the expansion of the company’s correspondent lending business in agency and nonqualified mortgage markets. Sheehy has spent 24 years in the correspondent lending channel and brings a total of 30 years of experience in the mortgage industry to Angel Oak. He will be responsible for creating new partnerships with lenders across the U.S., gaining access to purchase both qualified and nonqualified mortgages. Prior to beginning his position at Angel Oak, Sheehy worked as a correspondent sales manager at Homepoint Financial Corp. and as a key account manager at Chase Home Lending.

Panorama Mortgage Group named Donovan Stamps as president. A 27-year industry veteran, Stamps has held several leadership roles in the mortgage sphere at companies such as Bank of America, Pacific Union Financial, First Guaranty Mortgage Corp. and Guaranty Home Loans.

JMAC Lending announced the hiring of Andrew Taylor as senior vice president of third-party originator sales. Taylor has more than 30 years of experience in the mortgage industry in the wholesale and correspondent channels. In his new position, Taylor will be responsible for leading a team of regional sales managers and senior account executives in both channels.

Fortis welcomed Clint Crews as its head of Colorado commercial and specialty lending. Crews joins Fortis with more than 15 years of commercial banking experience, most recently as a commercial banking group manager at Independent Financial. In his new role, Crews will lead and develop Fortis’ middle-market and specialty lending strategy in the Denver region.


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