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Directors Depart, Join Mortgage Firms' Boards

Recent mortgage executive activity

Jan. 7, 2010

By SAM GARCIA


Recent executive activity at mortgage companies was limited to the boardrooms. Two directors are departing their respective boards, while two are joining.

Freddie Mac recently announced that Barbara T. Alexander will not seek re-election to the board of directors when her current term expires, which is expected to be in March 2010. Alexander, who joined the board in 2004, is an independent consultant and has held various positions at Salomon Brothers, Smith Barney and Wachovia Bank and Trust Co.

George L. Argyros was nominated to serve on Pacific Mercantile Bancorp's board of directors, a Dec. 23 statement said. Argyros served as U.S. Ambassador to Spain from November 2001 to November 2004 and is currently chairman and chief executive officer of the California-based investment firm Arnel & Affiliates.

Jonathan D. Mariner is leaving PHH Corp.'s board of directors because of other professional commitments, including responsibilities to his employer, Major League Baseball, a news release last month indicated. PHH is parent to PHH Mortgage.

Carroll R. Wetzel will fill the vacancy created by Mariner's departure. Wetzel is a director of Exide Technologies and Brinks Home Security and served as co-head of the merger and acquisition group at Chase between 1988 and 1996.


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

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