Steven R.

Paton
Scottsdale, AZ 85255 Cell (480) 284-1756 Srpaton2010@gmail.com

Summary of Qualifications:

Proven track record of driving results by developing and decisively acting on sound strategies while accepting accountability for outcomes. Implementing creative and efficient solutions that meet predefined quantitative and qualitative stakeholder expectations. Success in widely varying environments from large corporations (JPMC) to entrepreneurial start-ups (Marix). The scope of my responsibilities has included: 900+ FTE $80 million direct expenses / $100+ million vendor costs / $100+ million fee income 3 sites / 100+ Off-shore resources Leadership skills driven by displaying positive energy, respect for others and a desire to succeed. Constantly looking for high potential individuals and providing opportunities for them to display their ability to contribute to the success of the organization. Practiced at establishing and maintaining a clear vision by thinking strategically about the business, customers and the changing environment. Focus team energies on key activities that maximize benefit to the organization and provide the greatest satisfaction to customers. Demonstrated ability to lead the implementation and acceptance of change in the workplace, including innovative solutions and alternative approaches to new and existing challenges. Successful history of risk management through balancing risk with the organization's need to grow and increase profitability. Develop a thorough understanding of options for mitigation, trade-offs and exit strategies in advance of implementation of changes. Experience building high performing cohesive teams based on shared goals, values and trust.
Valuable Attributes: Operational experience coupled with financial management background enable ability to analyze and significantly impact P&L performance Pursuit of ongoing innovation and successful implementations Effective communication skills enabling/facilitating executive level strategic planning and policy making Ability to build professional relationships within new environments/cultures Substantial exposure to and well developed grasp of various technologies and their practical application in a business environment Thorough understanding of mortgage banking Wide ranging network of contacts throughout the financial services industry

Steven R. Paton, Page Two Employment History: 1/12-4/13 National Default Servicing Corp./Tiffany & Bosco Director of Default Servicing Manage Foreclosure, Bankruptcy, Litigation and Eviction for operations in Arizona, Nevada and California. Responsible for all day to day operations in support of 15,000+ non-judicial foreclosures processed by 180 FTE. Other areas of responsibility: Outsourcing Management Information Technology Compliance 2/10-1/12 Mortgage Contracting Services, Tampa, FL Senior Vice President Responsible for all day to day operations at Tampa facility including Vendor Management, Client Support and Outsource/Off-shore efforts Vendor Management Managed performance of a nationwide network comprised of 700+ independent contractors performing inspections, maintenance and repair on properties serviced by several of the largest banks in the U.S. Created and implemented RFP process that resulted in lower and more standardized pricing from vendors Developed pricing to clients Client Support Worked with servicing clients to establish performance metrics, policies to meet investor requirements and statutory compliance Advised clients on best practices and operational opportunities Effectively and equitably resolved issues arising out of non-compliance, financial loss and negative publicity Developed new products that can leverage existing capabilities Business Process Outsourcing Managed approximately 90 FTE off-shore resources Performed appropriate levels of Quality Control over production Business System Analysts Provided strategic direction for core operating system and ensured adequate Change Management discipline was followed Identified opportunities to increase effectiveness and reduce risk associated with deployment of new technology

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2/07-2/10

Marix Servicing, LLC, Phoenix, AZ Senior Vice President Loan Administration Built a fully functional servicing operation from scratch and had ongoing responsibility for all day to day servicing functions and client relations. Preparation for initial boarding of loans included hiring management team and staff, vendor selection and contract negotiation, evaluation, purchase and deployment of technology, process design and supporting policies and procedures. Processes and technology were designed to enable the business to succeed in current market conditions and support client objectives in effectively and efficiently maximizing loan workouts and disposition. Responsibilities and Accomplishments Boarded/serviced loans 90 days from occupancy Evaluated by S&P within 8 months of boarding first loan and achieved an Average-Stable with positive outlook rating Successfully developed Borrower Outreach product supplementing loss mitigation efforts of primary servicers for MI companies and contributing more than $1 million in revenue Actively involved in marketing Marix to potential clients and investors Jointly developed best in class reporting application with internal IT resources and external vendor providing dashboard and drill down capability to both internal managers and external clients Worked closely with multiple clients to implement specific loss mitigation strategies and corresponding performance measurements

4/06-2/07

Mortgage Lenders Network USA, Inc., Phoenix, AZ Vice President Loan Administration Hired to build a servicing operation in Phoenix to supplement existing servicing operation in Connecticut. Operations were on-line within 4 months with staffing and volume at targeted levels. Hired Management team Acquired space Coordinated technology needs with Corporate IT Worked with Greater Phoenix Economic Council to qualify for tax credits to fund training Cross-site Functional Responsibility for Default Servicing including Loss Mitigation, Foreclosure, Bankruptcy and REO Operational Responsibility for Western US Servicing functions including Customer Service Collections

Steven R. Paton, Page Four 8/00-3/06 Chase Home Finance, Columbus, OH Senior Vice President Default Servicing (900 FTE) Over 5 years earned progressively increasing responsibility within the Default Servicing organization. Loans serviced included GSE, Sub Prime, Home Equity and Manufactured Housing portfolios (5.5 million loans) across multiple sites. Responsibilities and Accomplishments Successfully managed CHF response to 2005 Gulf Coast Hurricanes including: Creating a Disaster Response Unit within 45 days of Katrina Actively participated in Investor efforts to craft appropriate policies Visited New Orleans and met with regional Chase banking managers and local non-profit organizations to communicate progress Create a data base to capture important information from impacted borrowers on their situation and property condition Managed an annual $80 million direct expense budget and met corporate driven targeted reductions Maintained control of over $100 million in vendor related expenditures Re-engineered and reorganized functions related to FHA servicing resulting in an annual increase of over $10 million in claim proceeds Created a High Risk properties unit to manage vacant/damaged properties and avoid significant financial and reputational risk Represented CHF on FHLMC, FNMA and MBA committees Prepared and delivered presentations to Rating Agencies, Investors and Regulatory Agencies Redefined and reengineered the Foreclosure Review and Referral process to meet investor requirements Using existing resources deployed throughout Default Servicing I created and managed a Reporting unit that provided consolidated and validated reporting for use by management and for publication to other stakeholders Managed implementation of newly acquired Default Servicing System (Fortracs) 1/98-7/00 ContiMortgage, Hatboro, PA Vice President - Asset Management (180 FTE) Two and a half years of increasing responsibility within a top tier subprime servicing environment. Successfully managed all default servicing operations by meeting charge-off, severity and cost to service targets. Responsibilities and Accomplishments Managed Foreclosure, Bankruptcy, REO, Loss Mitigation, Invoice Processing and Documents Created MS Access application allowing charge-off processing volume to increase 500%, increase accuracy and store valuable data not retained on the servicing system Installed and refined Default Management Reporting (DAISY) system Project owner for development and implementation of a Windows based collection front-end application that presents collectors with selected data from the servicing system.

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Automated the production of Reconciled Market Values and in the process provided a centralized repository for all asset values of loans in default Organized and staffed a Reporting Unit in support of Asset Management. This unit provides production and ad hoc reports as well as maintaining centralized reporting utilities ensuring consistent definition and integrity of data. Managed implementation of optical imaging technology in a Default Management operation 1997 Associates Credit Services, Inc., Salt Lake City, UT Assistant Vice President, Collections Manage collections operation for retail and unsecured credit portfolios to meet charge-off and recovery goals while maximizing efficiency and minimizing costs. In addition to leading collection staff I also was responsible for agency relations, recovery, quality control and bankruptcy. Identified the need and prepared the justification for purchase of a DAVOX auto-dialer. Coordinated the installation and integration of the dialer into a retail collection operation. Previous Employment: Fleet Mortgage, Columbia, SC (1996) First Nationwide Mortgage Corp. (FNMC), Sacramento, CA (1990-1995) Vice President, Reporting, Acq., Projects & Planning Security Pacific National Bank, Los Angeles, CA (1985-1989) Fleet, First Nationwide and SPNB - Financial Management & Analysis Evaluated servicing portfolio offerings for potential acquisition as well as quarterly valuation of owned servicing portfolio Created a management reporting process for a newly formed mortgage corporation that included comprehensive data on production, secondary marketing and loan servicing Successfully implemented an income and expense forecasting process for a loan servicing operation with $80 million in operating expense. Developed a complex cost of servicing model capable of estimating specific costs associated with various types of loans. The resulting improvement in allocation of servicing expenses lead to more accurate pricing of servicing rights. Analyzed competitive operational/cost data, accumulated through participation in the Mortgage Banking Industry Peer Group, to identify operational efficiency opportunities. Education: California State University, Sacramento, CA Bachelor of Science Business Administration (Finance) Mortgage Bankers Association School of Mortgage Banking (Course I & II)