Friday, July 20, 2012

realogy, century 21, Apollo Management

Corporate Press Releases

REALOGY FILES COMMENTS WITH REGULATORS REGARDING DODD-FRANK MORTGAGE RULES, RECOMMENDS ENHANCED DISCLOSURES

PARSIPPANY, N.J. 07-25-2011 —
Realogy Corporation, a leading global provider of real estate and relocation services, today announced the Company filed comments with the six regulatory agencies responsible for drafting the rules regarding Qualified Residential Mortgage, or QRM, under the Dodd-Frank Act.

Dodd-Frank provides that a lender must retain 5% of any loan not otherwise exempt under the to-be-determined definition of a Qualified Residential Mortgage.  The QRM definition proposed by the regulatory agencies would effectively require home buyers seeking mortgage financing to make a down payment of at least 20% of the purchase price.  Realogy notes in its comments, among other things, that, although it agrees with other groups who have commented publicly that this proposed QRM definition is unnecessarily narrow, regulators should rethink the Dodd-Frank retention requirement entirely and consider a fundamentally different approach that Realogy refers to as the “Enhanced Disclosure Approach.” A full description of the Enhanced Disclosure Approach can be found in its public filing.

“We believe the current QRM definition that includes a down-payment requirement of 20% would create unduly tight credit standards and place homeownership out of reach for millions of potential buyers,” said Richard A. Smith, president and CEO, Realogy Corporation. “This was not the intent of Congress when the Dodd-Frank Act was passed, and we remain hopeful that the regulators will make a course correction, wisely choosing not to damage an already fragile housing market.“

For further details on the real estate industry’s view of the impact of this QRM issue, read NAR's Regulatory Issue Brief.
Realogy Corporation, a global provider of real estate and relocation services, has a diversified business model that includes real estate franchising, brokerage, relocation and title services. Realogy’s world-renowned brands and business units include Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby’s International Realty®, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy’s franchise systems have approximately 14,600 offices and 260,400 sales associates doing business in 100 countries and territories around the world. Headquartered in Parsippany, NJ, Realogy is owned by affiliates of Apollo Management, L.P., a subsidiary of Apollo Global Management, LLC, a leading global alternative asset manager. Information about Realogy, including corporate background and press releases, is available through the company’s website at www.realogy.com.

Media Contact:
Kathy Borruso
Kathy.borruso@realogy.com 
973 407-5041








The Century 21 Real Estate LLC corporate officer's page includes downloadable (high and low resolution) images and biographies for the Chief Executive Officer and other members of the leadership team.

Richard W. Davidson

President and CEO

Richard W. "Rick" Davidson was appointed President and Chief Executive Officer of Century 21 Real Estate LLC in February 2010. In his role, Davidson leads the world's largest residential real estate sales organization of approximately 8,000 independently owned and operated franchised brokerage offices and more than 121,000 sales associates in 71 countries and territories worldwide.
Prior to his current post, Davidson served in a dual capacity as Chief Operating Officer of Coldwell Banker Real Estate LLC and as President and Chief Operating Officer of Coldwell Banker Commercial Affiliates. In this role, Davidson was responsible for overseeing the Coldwell Banker residential franchise operations on a global basis after having led the commercial brand's operations since May 2006. Specifically, he was responsible for directing the operations, field services, and education programs across this global residential real estate network.
With more than 20 years of experience in the real estate industry, Davidson is a licensed real estate broker in Virginia, Maryland and the District of Columbia. Previously, Davidson was the founding principal and Chief Executive Officer of Coldwell Banker Commercial Capitol Realty Services, an independently owned and operated company in the Washington, D.C., metropolitan market.
Before establishing Coldwell Banker Commercial Capitol Realty Services in 2003, Davidson spent nine years as managing director of CB Richard Ellis in the Washington, D.C., metropolitan market and three years with Insignia/ESG as executive vice president. During his tenure with CBRE, Davidson received several national awards, including Manager of the Year in 1994 and 1996, and the J. Frank Mahoney and James Didion Chairman's Leadership Award for Real Estate Excellence in 1997, 1998 and 2000.
Davidson currently serves on the international board of directors for Easter Seals. He is also active in Big Brothers/Big Sisters and a number of other local and national charities. He is an honors graduate of National Louis University in Chicago.

Bev Thorne

CMO

In her role as Chief Marketing Officer for Century 21 Real Estate LLC, Bev Thorne leads the planning and execution of the domestic marketing strategies in support of market share growth for the largest real estate franchise organization in the world. She is responsible for leading the strategy development and program execution of all consumer, broker and agent marketing programs. These efforts include: brand strategy and execution, direct marketing, national advertising, localized marketing and coop advertising, interactive marketing and technology, agent and broker marketing, targeted market promotions and marketing, sales support, public relations, media relations, internal communications and all promotional activities. She oversees the optimization of a National Advertising Fund with the overall goals to increase preference for the brand, to generate qualified customer leads, and to grow market share.
Thorne earned her MBA from the Wharton School at the University of Pennsylvania and has worked extensively in the areas of consumer marketing, strategic branding and event marketing management over her twenty-plus year career. She has a wealth of experience working with organizations modeled like the CENTURY 21 System. Most recently she was with JPMorgan Chase & Company where she served as senior vice president, customer marketing for the Home Finance business unit. Prior to that, Thorne worked at AT&T for nearly two decades in a series of increasingly senior roles, planning and executing marketing and communications strategies nationwide. She was instrumental in key telecommunications initiatives that spanned from the launch of cellular service to AT&T's return to the local service market. Her experiences at AT&T included product management, sales management and targeted market management. She and her husband are raising three children on a tree farm in Central New Jersey.

Mark Foreman

SVP Operations

Mark Foreman, a REALTOR® for 23 years, was appointed Senior Vice President, Operations, Century 21 Real Estate LLC in May 2010. Prior to his role with CENTURY 21®, Forman and his wife owned Cornerstone Capital Mortgage & Real Estate Services, Inc., where he worked with clients such as the Federal Deposit Insurance Corporation (FDIC), the United States Department of Housing and Urban Development, Fleet Bank, Chase Bank, Bank of America, GMAC, Clayton National, the Charles Smith Foundation and the Bridgeport Housing Authority.
Foreman has held numerous leadership positions within the industry. At the national level, Foreman served as Vice President and Liaison to Committees for the NATIONAL ASSOCIATION OF REALTORS®. NAR, The Voice for Real Estate®, is America's largest trade association, representing 1.3 million REALTORS®, involved in all aspects of the residential and commercial real estate industries. He also served on NAR's Housing Needs committee in 2005 and its Member Policy and Board Jurisdiction committees from 2005 to 2007. He was co-leader of NAR's joint work with Habitat for Humanity's Global Village Program, which built affordable homes in Mobile, Ala., in 2007. In 2006, Foreman was president of the Connecticut Association of REALTORS®. He served as its treasurer from 2002 to 2004. Foreman was a member of CAR's strategic planning committee in 2003 and 2007. He was named "REALTOR® of the Year" by his state peers in 2005.
At the local level, Foreman was president of the Greater Bridgeport Board of REALTORS® from 2001 to 2002. Active in the community, Foreman served as vice president of the board of Southwest Community Health Center in Bridgeport from 2000 to 2007, and on the board of The Polka Dot Playhouse in Bridgeport. He also was a member of U.S. Representative Christopher Shays' (R-Conn.) affordable housing task force in 2006, as well as the Town of Fairfield's affordable housing committee in 2007. Mark received his bachelor's in economics and political science from Yale University in 1987, where he was also a member of the varsity football team. He currently resides in Connecticut with his wife, Wende, and two daughters.

Greg Sexton

SVP Brokerage Services

Greg Sexton was named Senior Vice President, Brokerage Services for Century 21 Real Estate LLC in July 2010.
In his most recent role as senior vice president of operations for Coldwell Banker Residential Real Estate LLC and Coldwell Banker Commercial, Sexton oversaw the technology, learning, finance and administration departments for the organization.
Sexton has spent over a decade with Realogy Corporation (formerly Cendant Corporation) and has served in a number of roles, including franchise sales director for the CENTURY 21 brand and regional vice president, sales for both the Coldwell Banker and CENTURY 21 brands. In his previous positions, he was responsible for the sale of real estate franchises and supported the growth of existing franchisees through the merger and acquisition of unaffiliated real estate companies.
Sexton received numerous awards in his leadership roles at Cendant Corporation, including The Chairman's Award for Franchise Sales in 2001 and 2002 and, Regional Vice President of the Year in 2001, 2002 and 2003. He is a graduate of Lipscomb University.




From Wikipedia, the free encyclopedia
Realogy logo.png
Realogy (pronounced "rēl′ ə jē", as in "real" estate) is an American privately owned company that provides real estate andrelocation services. It owns and franchises several of the industry's leading real estate brands and brokerages. Along with its relocation services, it also provides title and settlement services. It is part of Apollo Management.[1]

Contents

  [hide

[edit]History

Realogy was created as a result of an October 24, 2005 announcement by Cendant that it had decided to split into four separate companies, citing a necessity to diversify in appealing to stockholders and in an attempt to increase the value of the post-split up company. These four categories include "Real EstateTravel DistributionHospitalityand Vehicle Rental Companies."[2]
On July 31, 2006, the separation was completed, and Realogy became a self-operating company[2]. Subsequently, the Cendant name has been 


completely retired.
On December 18, 2006, Realogy announced it had accepted a $8.5 billion buyout offer from private equity group Apollo Management. The transaction closed on April 10, 2007.[1]
Today, Realogy has a diversified business model that includes real estate franchising, brokerage, relocation and title services. Realogy's world-renowned brands and business units include Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty®, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy's franchise system members operate approximately 13,800 offices with 241,000 sales associates doing business in 103 countries and territories around the world. Its headquarters is located in ParsippanyNew Jersey. In 2011, Realogy earned $4.1 billion in revenue.[3]
Realogy is led by Chairman, CEO & President Richard A. Smith, who is a prominent figure in the housing industry. Smith was appointed to the Bipartisan Policy Center's newly formed Housing Commission in December 2011.[4] Smith also was named among SmartMoney magazine's "Power 30: The World’s Most Influential Players," in October 2011.[5]
Realogy announced its plans to move its corporate headquarters to a new facility currently under development at 175 Park Avenue in Madison, N.J. The move is expected to occur during late 2012 or early 2013.[6]

[edit]Realogy Business Units



Realogy announced its plans to move its corporate headquarters to a new facility currently under development at 175 Park Avenue in Madison, N.J. The move is expected to occur during late 2012 or early 2013.[6]

[edit]Realogy Business Units

[edit]See also

[edit]References

  1. a b "Apollo Management, L.P. Completes Acquisition Of Realogy Corporation". Realogy. Retrieved 2007-06-05.
  2. a b "Cendant". Cendant. Archived from the original on 2007-03-11. Retrieved 2007-06-04.
  3. ^ "Realogy Reports Results for Full Year 2011". Realogy. Retrieved 2012-02-27.
  4. ^ "Realogy CEO Richard A. Smith Appointed to Bipartisan Policy Center's Newly Formed Housing Commission". Realogy. 2011-12-13. Retrieved 2011-12-13.
  5. ^ "Power 30: The World's Most Influential Players". Smart Money. Retrieved 2011-10-12.

Realogy is led by Chairman, CEO & President Richard A. Smith, who is a prominent figure in the housing industry. Smith was appointed to the Bipartisan Policy Center's newly formed Housing Commission in December 2011.[4] Smith also was named among SmartMoney magazine's "Power 30: The World’s Most Influential Players," in October 2011.[5]

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