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Smaller Lenders Recruit from Big Firms

Recent mortgage industry executive appointments

March 8, 2012

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Several executives from the nation's biggest mortgage lenders have found new homes at smaller firms. Some of the new recruits worked at companies that have exited real estate finance or plan to close down.

PrimeLending recently reported that Karyn Wilson was recruited as senior vice president, regional manager, Mid-Atlantic. Wilson joined the Dallas-based lender from Bank of America Home Loans, where she spent a decade. She'll oversee production in her region.

Latonia Donaldson was hired by PrimeLending as a business development manager who will oversee multicultural and affordable lending opportunities through a newly created community outreach program, a statement earlier this month said. Donaldson's 18 years in mortgage lending most recently included a similar position at JPMorgan Chase & Co.

The retail origination channel at Total Mortgage Services LLC is now headed by Neil Bader, an announcement said. During his 25-year career, Bader worked for Guaranteed Home Mortgage Co. and Wells Fargo Home Mortgage. He also was chief executive officer of Skyscraper Mortgage Co. and successor IPI Skyscraper, where he reportedly oversaw $2.5 billion in originations and a sales staff of 300.

Another recent addition at Milford, Conn.-based Total Mortgage was Domenic Melillo, who was hired as vice president of wholesale lending. Melillo's more than 30 years in the business included stints at IndyMac Bank, Financial Freedom Senior Funding and NYCB Mortgage Co.

Shore Financial hired former Flagstar Bank executive Paul Orlando as chief information officer. In addition, the Birmingham, Mich.-based lender named Bill Van Nort to the newly created post of chief technology officer.

The new chief credit and compliance officer at Gateway Mortgage Corp. is Molly Reed Davis, the company announced last month. Davis, who has spent a quarter century in the business, is a refugee from MetLife Home Loans where she managed counter-party risk on more than 2,000 mortgage brokers and correspondents.

As the new executive vice president of capital markets at Stonegate Mortgage Corp., John Macke is responsible for secondary marketing, capital markets and servicing valuation, the Indianapolis-based company announced. Macke used to work at the defunct Irwin Mortgage Corp.

In Bellevue, Wash., Axia Home Loans recently announced that Rene Mondejar and former Eagle Home Mortgage executive Jon Lewis had joined the company as regional managers. The lender, which owns TILA Mortgage, said in October that former Evergreen Home Loans president Keith Frachiseur was named president of Axia.

Mortgage-industry speaker Barry Habib was hired as chief market strategist at Residential Finance Corp, a Jan. 30 news release indicated. Habib founded Mortgage Market Guide in 2001 and sold it to Mortgage Success Source in 2007. Habib regularly appears as a guest on business shows aired on the Fox Network and CNBC.

Churchill Mortgage said in January that it named Kevin Watson as its Middle Tennessee regional sales manager. Watson has two decades in the mortgage industry. In his new role, he'll help facilitate the development of loan officers' relationships with borrowers.

Debbie L. Steck joined 1st Security as senior vice president of home lending. Steck had been chief operating officer and vice president of production at Golf Savings Bank.

Former Citigroup Inc. executive Patrick S. Glynn joined Guaranteed Rate Inc. as vice president national relocation sales manager, a news release said. He started in the business in 2003 with CitiMortgage Inc., and then moved to other units of Citigroup.

Last month, San Francisco-based Bay Equity Home Loans announced that Paul Chevez was hired as director of finance. Among his new responsibilities will be negotiating warehouse lines of credit and working lines of credit with banks. Chevez most recently worked for appraisal management company Got Appraisals, while his 14-year career also included time at CMB Mortgage Inc.

1st Reverse Mortgage USA recently announced that David Brindley was recruited as manager of its correspondent lending group, and Debbie Turner has landed the job of chief operations officer. The Lakewood, Colo.-based firm said Brindley has three decades of mortgage experience, while Turner has almost as many years in the business.

The new assistant vice president of national underwriting at First Guaranty Mortgage Corp. is Lyle Lasky, a recent statement said. Lasky has 17 years' experience and previously worked at Capital One Home Loans, Freddie Mac and Prosperity Mortgage.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

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