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Former Fannie Execs Find New Firms

Recent mortgage executive activity

Jan. 19, 2010

By SAM GARCIA


The prominent trade group representing U.S. mortgage brokers announced the resignation of a top officer, and new executives were named at three mortgage banking firms. Three former executives at the Federal National Mortgage Association have found senior executive positions at other firms.

Marc Savitt resigned as immediate past president to the National Association of Mortgage Brokers' board of directors, the trade group said in a statement today. George Hanzimanolis will out the remainder of Savitt's term -- including his role as chairman of NAMB's nominating committee.

"We are thankful for Mr. Savitt's service to NAMB over the years," the McLean, Va.-based association said.

PHH Mortgage announced on Jan. 13 that Michael J. Dirrane was named executive vice president of sales. Dirrane will report directly to PHH Mortgage President Mark Danahy and be responsible for strategically aligning all mortgage business channels -- including private label outsourcing, wholesale lending and correspondent lending. He'll also oversee outside sales and account management.

Dirrane was previously vice president of marketing at Fannie Mae and was a managing director at GE Capital Mortgage Insurance. He was a founding partner at Amerin Guaranty, which eventually became Radian.

photo of Marc Savitt
Facebook photo of Marc Savitt

Charles V. Greener has left his job as chief communications and marketing officer at Fannie Mae to take a similar position at Walgreens, a recent announcement indicated. Greener had been with the Washington, D.C.-based company since 2001. In addition to the communications position he held since 2008, he served as chief of staff for Fannie's chief executive officer.

Greener started his new job with Deerfield, Ill.-based Walgreens on Jan. 4.

Another executive to recently leave Fannie was Theresa M. Messina, who was named chief accounting officer of Webster Financial Corp. Messina, who had been with the government-controlled enterprise since 2006, was responsible for "directing all aspects of strategic operations involving more than 18 million single-family residential mortgages with a total balance in excess of $3 trillion."

Mortgage servicer Franklin Credit Management Corp. said on Jan. 8 that Jimmy Yan joined the company on Jan. 11 as executive vice president and managing director of its servicing and asset recovery operations. Yan joined the New York-based firm from Deutsche Bank Securities Inc., where he spent four years and was responsible for managing a dozen mortgage servicers and more than 100,000 mortgages.

Vantage Pointe Capital Partners LP General Partner Daniel Osborne was elected to the board of directors of New York Mortgage Trust Inc., according to an announcement last week. Osborne was also appointed to the audit and compensation committees as well as the nominating and corporate governance committee.

Osborne co-founded Apex Mortgage Capital Inc., where he was chief operating officer and chief financial officer from 1997 to 2001. His appointment likely satisfies a Jan. 6 Nasdaq staff deficiency letter requiring at least three independent directors.


Northwest Community photo of John Gergots

The new chief lending officer at Winsted, Conn.-based Northwest Community Bank is John E. Gergots, The Register Citizen reported. The four-year employee will manage the residential and commercial lending department at the bank. He worked at Thomaston Savings Bank from 1992 to 2005.

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

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