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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.

Mortgage Executive Chronicle

Recent management moves at mortgage firms

July 5, 2010


The founder of a defunct subprime wholesaler has found a new home providing mortgage services to small financial institutions. A recruiter for a huge branch operation has moved across town to help build a retail branch network for another firm. An executive vice president of the Federal Home Loan Mortgage Corp. has been dismissed.

A spokeswoman for Freddie Mac confirmed the dismissal of Mike Perlman as EVP of operations and technology. She gave no other details about his departure, but a June 21 filing with the Securities and Exchange Commission indicated his termination was immediate -- though his employment was effective until Aug. 2.

Perlman was assigned to the post in August 2007. Other employers during his 30-year career included Morgan Stanley, AT&T and Deloitte & Touche.

His termination benefits require the approval of Freddie's regulatory, the Federal Housing Finance Agency.

Two class II directors elected to PHH Corp.'s board at its 2010 annual shareholder meeting were Deborah M. Reif and Carroll R. Wetzel Jr. PHH said Reif will serve as a member of the compensation committee and the corporate governance committee.

photo of Mike Perlman
Freddie photo of Mike Perlman

In Houston, Jonathan W. Fowler left Allied Home Mortgage behind and joined Iwayloan LP as director of national production. The executive will oversee a 19-month expansion of retail branch offices.

At Allied, also based in Houston, Fowler reportedly was a senior vice president for several years in charge of national production, product development and recruiting.

In the statement, Fowler said that among the most important factors in the company's expansion is "to attract only the very best branch managers and originators."

Also joining Iwayloan as manager of Pennsylvania was Linda Bullington. The 15-year mortgage origination veteran reportedly was the top producer for the USDA's rural development program in Pennsylvania from 2005 to 2008 and was recognized as "one of the BEST 50 Women in Business in Pennsylvania" in 2006.

photo of Chad Johnson
Meridian photo of Chad Johnson

The new managing director of Meridian Capital Group LLC's commercial originations group is Chad Johnson, a June 14 statement said. He will originate loans on a national basis from Kansas City, Kan., and report to Senior Managing Director Marty Lanigan.

Johnson previously worked for GMAC Commercial Mortgage, UBS, Deutsche Bank and Wachovia.

A new Quicken Loans unit that serves community banks and credit unions will be led by Decision One Mortgage co-founder Tod Highfield, the Charlotte Business Journal reported. Charlotte, N.C.-based Quicken Loans Mortgage Services could eventually employ up to 100 people.

Decision One, a subprime wholesale lender, was closed by parent HSBC Finance Corp. in 2007. Around 750 people were laid off as a result. In 2005, the company claimed it was the eighth largest nonconforming wholesale lender with more than 10,000 mortgage brokers.

Melissa E. Green joined Provident Bank as vice president, commercial lender in Rockland, N.Y. Before her last job at the consulting firm of Ed Tristram Associates, Green was regional credit administrator, first vice president of commercial mortgage lending at Washington Mutual Bank.

A new retail lending office in Albuquerque, N.M., will be managed by Steve Mancilla, a June 25 statement from First California Mortgage Co. said. First Cal claims $200 billion in residential originations during its 30-year existence. New Mexico is the ninth state First Cal expanded to during the past year.

Mancilla, who has spent 10 years in real estate finance, is "one of just five certified mortgage planners in the state," according to The Petaluma, Calif.-based company.

Bill Staiger was hired as managing director of Floridian Financial Mortgage, a news release last month said. The 20-year mortgage veteran's last job was vice president of Mercantile Bank, while previous employers include KB Countrywide Mortgage, CTX Mortgage Co. and Beazer Mortgage Corp.
photo of Melissa Green
Provident photo of Melissa Green

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

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