BUSINESS OPERATIONS TRACK: Financial and Operational Considerations in the Servicing Retained/Released Decision in a Volatile Market

Director, Consulting Services, Richey May

With extensive experience in mortgage banking and mortgage servicing, Seth Sprague leads the Mortgage Banking Consulting Services practice at Richey May. A sought-after speaker, he often speaks on liquidity and the overall challenges in the mortgage industry. Sprague joined Richey May from the STRATMOR Group where he was a principal. Prior to joining STRATMOR, he was EVP of Trading and Analytics at Phoenix Capital. Sprague also served as SVP, Servicing Asset Manager at SunTrust Mortgage for more than 10 years, where he developed and led their servicing rights valuation team. His career also includes accounting, analytics and auditing roles at Bank of America, KPMG LLP, and United Financial Inc. Seth holds the designation of Certified Mortgage Banker (CMB) from the MBA.

SVP, Client Experience, Servbank

Vice President, Business Account Management Solutions, Fannie Mae Single Family

Cristi Richey is Vice President of Business Account Management Solutions – Single Family Business. She leads the mortgage servicing strategy for all Fannie Mae customer facing teams, including but not limited to, relationship and performance management of approximately 1,400 servicers. Her organization is responsible for day-to-day monitoring of servicer performance focused on enabling safe and sound risk management, strengthening the servicing infrastructure and leading relationships of Fannie Mae approved servicers. She creates alignment on the servicing strategy across the company and ensures proactive decision-making to safeguard 17.6 million loans ($3.6 trillion UPB) of Fannie Mae’s Single-Family Servicing portfolio. Richey and her team leverage Fannie Mae products, tools, and resources to drive towards the mission of improving access to equitable and sustainable housing and enhancing Fannie Mae’s financial and risk position. She joined Fannie Mae in January of 2010 and has held various roles during her tenure within the Single-Family Servicing organization, including Servicing Relationship Management and Performance Oversight, Servicer Response Team, and the Mortgage Default Counsel relationship and oversight team. Prior to joining Fannie Mae, she worked at Homecomings Financial and GMAC Mortgage. Richey has a Bachelor of Science in Family and Consumer Sciences and Fashion Merchandising from Abilene Christian University.

Senior Vice President, Enterprise Sales, Onity Group