OpExNow names Stephen Faulkner as Partner, Managing Director of Strategic Business Development
LOS ANGELES, CA, May 14, 2012 – OpExNow, a national management consulting firm focused on serving the mortgage banking industry, is pleased to announce that Stephen Faulkner has joined the firm as a Partner and Managing Director of Strategic Business Development.
“We are excited to have the opportunity to add a respected industry leader like Stephen to our team. His deep knowledge of default operations, loan administration, special servicing and risk management will further strengthen our ability to provide innovative solutions to our clients and assist us in expanding our service offerings. We are confident that Stephen shares our vision for the future of OpExNow and our commitment to supporting clients with superior operational execution,” says Arleen Scavone, President and Founder of OpExNow.
As Managing Director of Strategic Business Development, Faulkner will be responsible for business development strategy, service offerings and corporate administration. Faulkner’s primary focus will be to provide customized solutions to clients to respond to the escalating external demands and requirements of regulatory agencies while controlling operational and portfolio risk. Faulkner will also be responsible for identifying and developing strategic alliances for OpExNow.
“I am very excited about joining the OpExNow Team,” says Faulkner. “I had the opportunity to work with them as a client and experienced first hand OpExNow’s ability to generate creative, executable solutions while consistently providing high quality, value-added services.”
Faulkner brings more than 30 years of diversified senior executive experience in mortgage banking operations. He comes to OpExNow from Vericrest Financial, a highly rated special servicer, where he served as President and COO. At Vericrest, he led the development of innovative asset performance strategies supplemented by proactive compliance and quality control functions, gaining Vericrest multiple ratings increases from both Fitch and S & P.
In previous management positions, Faulkner developed and executed process improvement initiatives at several mortgage servicers, resulting in annualized cost savings exceeding $100 million. As Senior VP of Loss Prevention for Saxon Mortgage, Faulkner led the early implementation of the HAMP program. He holds a B.A. from the University of Alabama and is a licensed CPA in the State of Texas.
OpExNow was founded in 2009, by Arleen Scavone and a team of former financial services and retail delivery leaders, all with proven track records in the industry. Combining experience through the last four decades of banking evolution and challenges, the team has developed a portfolio of best practices to assist clients in the continuous reinvention of people, processes and systems to respond to internal and external demands for change. OpExNow provides its clients with practical, experienced-based solutions via qualified consultants bringing deep subject matter expertise from years in the mortgage banking servicing and origination space. OpExNow partners with their clients to plan, design, build and deploy operational strategies to best leverage internal capital and vendor alternatives. Key areas of expertise include: Strategic Planning and Implementation; Business Process Optimization; Change Management, Operational Risk Management, and Regulatory Compliance and Quality Controls. OpExNow currently works with Servicers nationally to respond to the ongoing releases of government directives including MHA, Foreclosure Lookback, OCC and DOJ.
To learn more about OpExNow, visit www.opexnow.com.
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