Joseph DeStasio is the executive vice president of servicing at The Money Source(TMS), which owns the industry leading subservicing platform, SIME. As EVP of Servicing Financial Operations, DeStasio is responsible for investor reporting & accounting, payment services as well as servicing financial management and planning. DeStasio is a seasoned mortgage executive with significant expertise in loan servicing operations.
[Expert commentary] The servicing industry has historically been about call centers and collections. Companies staff up or staff down depending on the market condition and overlook the most important factor in all of the changes — the people.
President Donald Trump appointed Calabria to take the helm of the FHFA on December 12, 2018. The Senate then officially confirmed Calabria in April by a vote of 52 to 44 as head of the agency. Since then, Calabria has not been silent on his plan to reform the FHFA and the entities it oversees – Fannie Mae and Freddie Mac.