The Kansas City, Missouri-based law firm of Martin, Leigh, Laws & Fritzlen, P.C., said Thursday that Fannie Mae expat Mona Fettkether will join the firm's default management team. The firm operates a full-service creditor's rights practice in both Kansas and Missouri. Fettkether will be responsible for managing key aspects of the company's day-to-day default operations, the firm said in a press statement. Fettkether comes to the firm from Fannie Mae, where she worked as a senior servicing specialist since 1998. Prior to her tenure at Fannie Mae, she led the loss mitigation operations at Waterloo, Iowa-based GMAC Mortgage, where the company became the first large servicer to attain Freddie Mac's prestigious Tier 1 ranking.
Subsequent to her GMAC role, Fettkether also briefly supported the national default outsource operations now owned by First American Corporation (NYSE:FAF). "She has over 18 years of experience and expertise in the mortgage banking industry and we are fortunate to have someone of her stature coming on board," said partner Berry F. Laws III. "We know she will help to enhance our firm's operations as we move forward into the challenges and opportunities currently facing our industry." Many default management firms and law offices are ramping up their staffing levels in response to the current crisis in subprime lending, industry sources have told HW. "Servicers need experts in managing troubled loans and loan recovery now more than perhaps at any time in the past decade," said one source, on the condition of anonymity. For more information, visit http://www.mllfpc.com.
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