Career moves

USFN, a national not-for-profit association of select attorneys, trustee companies and industry-specific vendors who specialize in loan servicing matters, has made changes to its leadership team for 2013.

Richard L. Borges II will begin his one-year term as president of the Appraisal Institute on Jan. 1.

Brandon Boze, an executive from CBRE Group’s largest shareholder, has joined the group’s board.

Fortress Investment Group said principal and director Robert Kauffman is retiring from the company.

ClosingCorp said that Mark Nogaki has joined the company as senior vice president of sales.

Donna DeMaio will have the same policies that led United Guaranty to become No. 1 in new insurance written.

Freddie Mac’s chief financial officer Ross Kari will be leaving the company next summer.

Beech Street Capital promoted Tyler Griffin to the post of vice president of originations at its New York office.

JPMorgan Chase Tuesday said origination executive Kevin Watters would become its CEO of mortgage banking.

HUD officials have agreed to impose a moratorium on an FHA-insured reserve mortgage product, increase downpayment requirements on jumbo loans to satisfy a Republican senator and reduce FHA’s risk profile.

The FHA reform bill would give the Department of Housing and Urban Development more powers to police lenders and require indemnification for bad loans as a way to reduce FHA loan losses.

In his new job, Whalen will be executive vice president and managing director for Carrington Investment Services, LLC.

David Durning will take over as president of Prudential Mortgage Capital Co., replacing David Twardock, who is retiring next April.

Bob Ryan, a senior HUD official who launched FHA’s foray into risk management as it pertains to lenders, has accepted a position with Wells Fargo Home Mortgage.

Stephen Cross, the Federal Housing Finance Agency’s deputy director of its Division of Federal Home Loan Bank Regulation, will retire in March.

Dwight Fettig, who has served as the panel's staff director since 2011, is expected to rejoin the lobbying firm Porterfield & Lowenthal.

The ghost of Angelo Mozilo (who is still alive) continues to hang over mortgage banking.

DocMagic Inc. promoted Steve Ribultan to director of business development.

Thomas McInerney has been named president and chief executive of Genworth Financial.

The White House has been unhappy, to some degree, with Edward DeMarco because of his refusal to allow the GSEs to write down the principal on underwater loans as a restructuring tool.