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New Kids on the Block

Recent mortgage executive activity

May 16, 2013

By AIMEE BROWN Mortgage Daily

Since early March, at least 20 mortgage companies saw executive-level management changes. Over a dozen of the changes involved senior-level executives -- including two high-level company departures. The majority of appointments involved new hires as just one person was promoted.

Residential Capital LLC's Securities and Exchange Commission Form 8-K revealed ResCap Chief Executive Officer Thomas Marano resigned, effective May 3. Currently bankrupt, Residential was the mortgage arm of Ally Financial Inc. A May 6 press release stated Marano agreed to serve as ResCap's outside director while pursuing other interests.

Foothill Ranch, Calif.-based LLC gained Executive Vice President and Chief Marketing Officer Teri Felix. The company's April 25 media statement claims Felix was added to support growth plans and residential lending expansion. Prior to her new role, Felix held the same titles at Home Value Protection.

Two new vice presidents marked New American Funding's recent executive-level changes. On April 15, the company announced Sam Chauhan as vice president of national purchase production. Chauhan has worked in the mortgage industry since 1997, realized a 95 percent rate of purchase production and conducted seminars on loan mastery across the country.

On May 13, Cayce Macias was named New American's vice president of community lending. A former director and founding member of Mosaic Realty Network, Macias served as public relations vice president for the National Association of Hispanic Real Estate Professionals in Orange County, Calif., and has a graduate-level education background in public relations.

Christina Cook became First California Mortgage Co.'s new chief financial officer and executive vice president, according to a May 1 press release. Formerly, Cook was CFO and executive vice president for Bank of Marin, and her experience in banking and senior management spans over two decades.

In Irving, Texas, Pacific Union Financial LLC said Wednesday that Ron Fountain was hired as executive vice president and chief legal officer. The former JPMorgan Chase executive previously worked for Nationstar Mortgage and Patton Boggs LLP.

The new regional sales manager for correspondent lending at New Penn Financial LLC is Gil Lopez, an announcement Wednesday indicated. Lopez most recently operated GL Consulting LLC and previously worked for Credit Suisse Securities USA and Morgan Stanley.

Plymouth Meeting, Pa.-based New Penn, said it has made a number of management hires recently and plans to continue adding to its staff of 1,300.

First Guaranty Mortgage Corp. hired Amy Ellenburg as its regional third-party originations manager in correspondent lending, according to the company's April 30 press statement. The company tasked Ellenburg with correspondent lending account executive recruiting and production channel growth.

Austin, Texas-based 360Mortgage Group appointed Jeff Slain as the regional manager over the U.S. central region. The May 14 announcement revealed Slain previously worked at M&I Home Lending Solutions for 15 years.

An April 4 media release said Guild Mortgage Co. employee Michael Brown was promoted to national builder division manager.

On March 21, privately held mortgage bank WCS Lending unveiled its head of affinity relations as Ivan Choi. WCS' written statement said the role "was created with him in mind." For 13 years, Choi worked at Countrywide Home Loans and continued on with Bank of America Corp. after it acquired the former lending giant.

New Jersey-based E Mortgage Management LLC gave notice, on April 16, of retail lending executive Dennis Raico's separation from the company. E Mortgage's notice said President Kevin Crichton would resume Raico's duties in the interim.

In an April 10 statement, specialty servicer Fay Servicing disclosed its recruitment of Loren Morris, Esq., to its executive leadership team. In his new job, Morris will serve as chief compliance officer, executive vice president and general counsel. A 25-year financial and mortgage industries veteran, Morris previously was chief compliance officer, senior vice president and general counsel for Retreat Capital Management Inc.

Mortgage Solutions Financial also welcomed a new executive-level member in April. Gordon Thorn, J.D. will serve as executive vice president of corporate and legal affairs and will supervise Mortgage Solutions' legal and human resources departments. Prior to joining the Colorado Springs, Colo.-based company, Thorn served as director of finance for Tax Favorite Benefits Inc.

Two new-hires joined Pacific Union Financial LLC as sales executives, according to Pacific's written notice from May 2. Former Home Savings of America employee Patricia Trimble joined Pacific as their senior vice president of wholesale sales, while previous JPMorgan Chase division manager J. Andrew Peach signed on as Pacific's senior vice president and national correspondent manager.

Also on May 2, Allied Mortgage Group announced Mark Smyth as its director of affinity lending. As director, Smyth will oversee daily operations in his division.

ARMOUR Residential Management LLC used an April 2 press release to introduce the new Director of Mortgage Strategy Desmond Macauley.

Former CitiMortgage Inc. executive Jeffrey Walter has been hired by SunTrust Mortgage, Inside Mortgage Finance reported.

An April 18 Utah Policy article said Primary Residential Mortgage Inc. CEO Dave Zitting was elected to and accepted a three-year board position, effective June 1, with the California Mortgage Bankers Association.

In commercial real estate finance, Berkadia Commercial Mortgage LLC heralded new hire Preston Sargent as managing director over equity initiatives and separate accounts on April 17. According to the company's website, Sargent will work mainly in Berkadia's Denver office and previously was an executive vice president at Kennedy Associates, now known as Bentall Kennedy.

In a late February announcement, Beech Street Capital LLC reported Carolyn Whatley as its senior VP of originations. Whatley, a former Love Funding Corporation VP, will work from the Palm Beach, Fla., office and focus on Federal Housing Administration business.

Elsewhere in New Jersey, Case Real Estate Capital LLC used a March 14 press release to introduce Scott Hartstein and Steve Milona as principals and co-founders. Both Hartstein and Milona came from SBL Capital.

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