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Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Executives Recruited, Replaced

Recent mortgage executive activity

March 2, 2010


A Georgia woman has gone from being a mortgage broker customer of a local bank to a manager of the bank. An executive who left a New York-based mortgage firm three years ago is back. Other recent mortgage executive activity involved positions in sales, technology and foreclosures.

GMAC Inc. Chief Executive Officer Michael Carpenter, whose target total compensation package has been established by the government at $9.5 million, received $119,726 in cash compensation and $682,438 in deferred equity for 2009, GMAC reported in a public filing.

After a three-year separation, Joseph Prat has re-joined Franklin Credit Management Corp. as vice president of default servicing, a statement last week said. He started his new job on Feb. 8 and is responsible for default operations in the New York-based company's servicing and recovery departments. Prat, who previously worked for Franklin from 2002 to 2007, is also handling investor reporting.

Prat spent the prior three years as a senior data architect at Fortress Investment Group LLC "where he created, managed and implemented a data warehouse and related infrastructure for subprime mortgage origination and servicing applications; managed a team of information technology developers; and worked closely with senior management and asset managers," the statement said. Fortress is parent to former Centex subprime subsidiary Nationstar Mortgage LLC.

The new southeast regional manager at Mortgage Network Inc. -- or MNET Mortgage Corp. -- is Don Bartolomucci, the Danvers, Mass.-based firm announced last month. Bartolomucci's last job was vice president at Waterfield Bank, while he held the same title before that at Gateway Funding Diversified Mortgage Services.

Jeff S. Bell has been appointed senior vice president and chief information officer of PHH Corp., parent of PHH Mortgage. Bell's 15 years' experience includes work on the integration of the technology platforms of Countrywide Home Loans and Bank of America Corp.

Taylor Capital Group Inc. announced the addition of several senior vice presidents in a Feb. 17 news release. The Rosemont, Ill., lender said it just launched operations in January.

Phillip M. Miller was hired as an SVP of secondary marketing, Taylor Capital said. In addition, Daniel J. Ervin was hired as national sales manager, Rebecca J. Bussineau came aboard as director of credit and Alan Holsztynski was brought on as information technology director.

photo of Don Bartolomucci
MNET photo of Don Bartolomucci

Jan Davidson photo
Primary Capital photo
of Jan Davidson

Jan Davidson has gone from being a mortgage broker customer to a branch manager of Primary Capital, the Atlanta-based company recently said. Before joining the residential lender, Davidson owned and operated Davidson Mortgage near Charlotte, N.C. In her new job, she will help develop North Carolina for the bank subsidiary.

HomeBanc Inc. promoted Michael Alea to senior vice president, regional mortgage manager, an announcement last week said. The 24-year mortgage banking veteran will work in Belleair Bluffs, Fla.

In Bethlehem, Pa., Ivy League Mortgage announced last week that Angela Nasi was promoted to senior loan manager. In addition, Brad Miller was hired for the same position.

The new vice president and business development officer at Wedbush Bank is Maria Ruppert-Pappas, according to a Feb. 23 announcement from the Los Angeles-based institution. She will head a new loan production office just a little south in Newport Beach.

Ruppert-Pappas was previously employed by Pacific Mercantile Bank and belongs to the Los Angeles Mortgage Bankers Association.

"Her relationships and presence in Orange County will enhance Wedbush Bank's outreach," Wedbush Bank President and CEO R. Scott Racusin said in the statement.

photo of Maria Ruppert-Pappas
Wedbush photo of
Maria Ruppert-Pappas

phot of Saqib salman
USA photo of Saqib Salman

Saqib Salman was hired as post-closing manager at St. Louis-based USA Mortgage, a Feb. 23 statement said.

Debra Wood was hired as assistant vice president of operations at Love Funding, a February press release indicated. Other non-executive promotions at the firm included Kimbra Stevens and Michael Stagnato.

Mortgage Broker Ted Bohrer was appointed Southern California director of the Foreclosure Response Team, according to an announcement last month.

Bohrer, who is managing member of Shining Real Estate Investments LLC, will lead the West Coast expansion of the Realtor affiliate program.

photo of Ted Bohrer
Foreclosure Response photo of
Ted Bohrer

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

[email protected]

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