Team

Lori Arute: Chairman and CEO
As Chairwoman and CEO of The National Groups (TNG) and its subsidiaries, Ms. Arute assumes overall responsibility for the oversight of TNG and all related business entities to ensure continued growth as a best-in-class, end-to-end default servicing organization. Ms. Arute chairs the Board, and works closely with the President as well as the balance of the senior management team to oversee key initiatives, developmental opportunities and financial performance. Under her leadership, The National Groups has grown its revenue and net income organically from its inception 7 years ago to be a highly profitable, woman-owned organization. The company has expanded exponentially and currently has several hundred employees disbursed across its offices located in Glastonbury, CT, Austin, Texas and San Diego, CA.

Ms. Arute began her career as a real estate broker and developer, eventually organizing and opening a real estate appraisal and valuations company, as well as a property management firm that has enjoyed success for more than 20 years.

Wayne Arute: President
As President, Mr. Arute is the business leader and visionary responsible for the growth, direction and effective management of The National Groups and its subsidiaries, including National Default Servicing, LLC, (NDS). Mr. Arute provides strategic direction to the senior management team and is responsible for strategy, client planning and the overall performance of all business lines.

With over 24 years of experience in the management and operations of default servicing, REO asset management and valuations, Mr. Arute has a proven track record of building and developing innovative products and services that exceed client needs in the ever-changing default environment. From 1984-1988, he served as President of Arute & Associates, a full-service real estate valuation and appraisal firm, and in 1986, he founded a property asset management company which he developed into one of the most significant REO brokerage/asset management servicing platforms in the northeast, closing over $2B in residential real estate during his tenure. With Mr. Arute’s founding of National Default Servicing in 2004, he reduced his role at the brokerage entity to serving on the board of directors to provide the firm with strategic direction.

Bruce Wentworth: Chief Administrative Officer
As Chief Administrative Officer, Mr. Wentworth is responsible for the oversight of all servicing aspects of assets managed through The National Groups and its subsidiaries, including asset transfer, client assimilation, portfolio performance and reporting. With over 30 years of experience in REO, residential loan and tax lien servicing, Mr. Wentworth held several executive positions prior to joining The National Groups. For the 10 years prior, he was Senior Vice President of servicing operations at Clayton Holdings. And through an exclusive management agreement between Clayton and MBIA, he served as President of the tax lien servicing subsidiary of MBIA Insurance for 7 years. This position included the direct responsibility of 10 state offices and approximately 100 staff members. Mr. Wentworth was responsible for tax lien and REO management and disposition, overall portfolio disposition strategy development, and execution on a portfolio of approximately one million liens with a redemptive balance outstanding of $800M. He was also the servicing division President of a small, privately-held tax lien servicer and senior manager with J.E. Robert Companies (JER). While with JER, he was one of the senior implementation managers of the firm’s northeast FDIC asset management contract.

Mitchell Oringer: Senior Managing Director – Portfolio Management & Performance
As Senior Managing Director of Portfolio Management & Performance, Mr. Oringer currently oversees all aspects of the REO management and Loss Mitigation Operations across all related businesses at The National Groups. He brings 20 years of experience in default management and has directed loss mitigation and collections operations at IndyMac Federal Bank, GMAC/ResCap and Clayton Holdings. With a background in REO management and special servicing of non-performing loans, Mr. Oringer has used special servicing principles across platforms to create a highly effective approach towards loss mitigation, earning the highest industry ratings from rating agencies and the GSE’s. Mr. Oringer was instrumental in the implementation and oversight of the FDIC modification program developed at IndyMac, and is a former member of Fannie Mae’s and Freddie Mac’s default advisory groups.

Robert Rothenberg: Senior Managing Director, Chief Financial Officer
As Senior Managing Director of Finance, Mr. Rothenberg is responsible for the corporate and operational accounting functions which support servicing delivery. He is a CPA and financial executive with over 23 years of experience in accounting, finance and management working in both the public and private arenas. Prior to his current position, Mr. Rothenberg was CFO for an asset manager and partner in a $300M portfolio of residential whole loans and REO, and Vice President of Finance for Clayton Holdings, a public company providing residential whole loan due diligence, loss mitigation and surveillance services. In addition, he worked in public accounting for 7 years, primarily on audits and workouts of commercial real estate developers. His experience includes interfacing with both private equity and banking sources to successfully complete: a $300M IPO, $200M debt recap, $200M in whole loan purchases, as well as managing acquisition due diligence for organizational mergers and purchases.

Mike Alarcon: Chief Information and Technology Officer
As the CIO, Mr. Alarcon oversees all technology-related work at The National Groups and its subsidiaries. Mr. Alarcon possesses over 30 years of experience in financial services and the mortgage industry combined, with over 10 recent years concentrated in information technology for special servicing, default management and REO. Prior to joining The National Groups, Mr. Alarcon was responsible, as Information Officer and Technology Platform Director, for all of the web-based applications used in the San Diego and Dallas servicing platform of GMAC/ResCap. As a Vice President of Business Engineering and IT Director for the start up and subsidiary arm of GMAC RFC in San Diego, he was responsible for the development of web-based proprietary applications and databases for loss mitigation, foreclosure, bankruptcy, REO, valuations, due diligence, insurance, analytics and NPV pricing models for the acquisition and securitization of non-performing assets. His previous positions included being the Director of Emerging Technologies and PC/Network Services at Sun America Corporation, Director of Business Solutions for Countrywide Mortgage operations and Systems Manager for Personal and Commercial Lines for CNA Corporation.