Opus CMC Announces William Shuey as Director of Securitization - Executive Appointment to Underscore the Importance of Compliance in the New Securitization Market
Feb. 2, 2015, Lincolnshire, IL – Opus Capital Markets Consultants, LLC (Opus CMC), a leader in mortgage due diligence and a wholly owned subsidiary of Wipro Limited (NYSE: WIT), a leading global information technology, consulting, and business process services company, today announced the appointment of William (Bill) Shuey as director of securitization. Shuey will be responsible for operational oversight of the securitization processes with a focus on assuring the delivery of high quality, compliant solutions to the residential mortgage-backed securities (RMBS) market.
Shuey has more than 30 years of mortgage industry experience working with prominent Wall Street firms and banking institutions to establish objectives and processes around mortgage due diligence and the secondary market. Prior to joining Opus CMC, he was the due diligence manager at Accenture assigned to Morgan Stanley, where he was responsible for analyzing new rules and regulations and ensuring compliance. Shuey also held management positions at Goldman Sachs and was vice president at Hudson Advisors.
“As the secondary market continues to grow and investors expand their risk tolerance, our key focus is to ensure our clients have accurate transactional and compliance information to make strategic and profitable decisions. Bill’s leadership will help guide this vision forward,” said Joe Andrea, chief sales officer at Opus CMC. “His extensive knowledge and background in mortgage, regulatory compliance and the securitization process will add value to our already experienced due diligence teams.”
“I am very pleased that Bill has joined Opus CMC. He not only brings an impressive background in mortgage finance and due diligence, he also has a comprehensive vision that will capitalize on Opus’ expert teams, technology solutions and partnerships.” said Jennifer LaBud, COO at Opus CMC.
Although momentum is building in the secondary market, there continues to be ambiguity around Regulation Z and Appendix Q changes which were effective Jan. 10, 2014. By proactively communicating and partnering with regulators, ratings agencies, sellers, issuers and underwriters, Opus continues to lead efforts to drive clarity in lending and securitization processes. Shuey’s depth of experience will further bolster Opus’ ability to deliver quality in non-agency securitization due diligence.
“Joining the Opus CMC team is an exciting opportunity. While regulatory concerns continue to plague the mortgage industry, Opus CMC sees compliance as the cornerstone for a more lucrative securitization market,” said William Shuey. “I am excited to be part of a company where the commitment to quality is the foundation for its vision and also the outcome of its service offering.” Shuey added.
Opus CMC’s commitment to creating a foundation for a more credible, and transparent securitization market is reinforced by its recent technology and resource investments. In July 2014, Opus CMC announced its proprietary OpusPanorama due diligence client platform and in December 2014, they hired longtime industry compliance expert, John Levonick as chief compliance counsel. Looking ahead, Opus CMC is working to meet the SEC’s Third Party Service provider requirements, effective June 15, 2015, and actively collaborating with the industry to define protocols.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of over 150,000, serving clients in 175+ cities across 6 continents. For more information, please visit www.wipro.com
About Opus CMC
Opus Capital Markets Consultants, LLC is a specialized risk management and quality control service provider for a wide range of participants in the mortgage and consumer lending industry. Specialized services include due diligence, valuation, and advisory solutions. These services range from loan level re-underwriting to quality assurance support for operational risk assessments of counterparties and servicers. Opus CMC is the preferred industry choice based on quality, responsiveness and technology. Clients include banks, originators, investors, government institutions and mortgage insurers.
Forward-looking and Cautionary Statements
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