Colgate Selden has joined Promontory MortgagePath, a provider of next-generation mortgage technology and loan fulfillment services, as chief compliance officer.
In addition, Scott Doughty and Craig Wildrick have joined the company’s mortgage technology unit as chief operating officer and chief product officer, respectively.
Selden was previously with international law firm Alston & Bird, where he was a consumer finance regulatory partner, counseling clients on the full range of federal and state compliance issues.
Prior to that, he was a senior counsel in the office of regulations at the Consumer Financial Protection Bureau (CFPB), where he was a member of the Loan Originator Compensation, Ability-to-Repay (ATR), TILA-RESPA Integrated Disclosure (TRID), Home Equity Line of Credit (HELOC), and Alternative Mortgage Transaction Parity Act (AMTPA) rule-making teams. As such, he contributed to the development of these industry-changing rules and clarifications.
Selden also served as the office of regulations lead for TILA mortgage regulatory inquiries from industry, Congress and consumer groups. He was also a senior advisor for RESPA Section 8, Regulation P, and Fair Debt Collections Practices Act (FDCPA) policy.
Before joining the CFPB, Selden was an attorney with the U.S. Department of the Treasury, where he was a member of the CFPB Implementation team that developed policies on initial CFPB authorities and TRID disclosure prototypes.
Prior to his government service, he was in private practice at several leading DC law firms where he advised banks, non-depositories, and ancillary service providers on federal and state mortgage laws and regulations.
Doughty joins PromonTech from Finastra, a top five global FinTech company. During his 17-year tech career, he held several senior roles, including the head of client services for D+H’s retail business unit, vice president of client services at Harland Financial Solutions and chief operating officer of Financialware.
Previously, Doughty led a regional financial institution consulting practice for RSM, a national CPA and consulting firm.
Wildrick is a seasoned financial services veteran with deep ties in the mortgage origination, servicing operations and technology fields. Prior to joining PromonTech, he was the executive vice president of enterprise mortgage lending of Zions Bancorporation where he oversaw the mortgage lending division in six affiliate banks.
Wildrick was also the chief operations officer of Aurora Bank, where he was responsible for improving operation efficiency, control and technology. Prior to joining Aurora, Wildrick held several executive positions within Wells Fargo.