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Career Moves Made in Mortgage Business

Firms filling open positions, creating new executive jobs

Aug. 29, 2012


In addition to replacing departing executives, new management positions are being created and filled at several growing mortgage firms. Wholesale and reverse mortgage executives are being recruited, and executives of companies that are closing are landing at other organizations.

Indianapolis-based Stonegate Mortgage has added the new position of senior vice president of third party origination. In that position, newly appointed Paul Wyner, who previously was a senior vice president and division manager for Troy, Mich.-based Flagstar Bank, will be responsible for leading Stonegate's wholesale and correspondent channels as the company continues to expand its third party origination channel.

"We have experienced tremendous growth over the past four years," said Executive Vice President of Loan Origination Steve Landes, "and Paul's leadership will be instrumental as we expand to a national footprint in the coming months."

San Diego-based American Mortgage Network, the wholesale channel of 11-month-old Bexil American Mortgage Inc., has hired three senior production executives to fill three new positions: Danielle Royal as southwest divisional manager, Debbie Hood as northwest divisional manager and Anthony Campat as wholesale sales manager for Southern California. The company began originating loans last May. Bexil American Mortgage, which was formed in October 2011, is a subsidiary of holding company Bexil Corp.

Bexil American Mortgage Chief Executive Officer John M. Robbins said the "experience and connections" of the three will "accelerate our growth by providing unsurpassed service to our broker clients."

Tulsa-based Gateway Mortgage Group has hired David Robinson as regional vice president and director of alternative sales channels. He also will assist in the company's expansion into Florida. Prior to joining Gateway, Robinson was senior vice president of builder services and business manager for central Florida for SunTrust Mortgage.

Gateway also has hired Robert Rothrock to lead its marketing and corporate development department. Prior to joining Gateway, Rothrock was senior vice president of marketing, public relations and talent acquisition for Dallas, Texas-based NexBank.

Both of these positions are newly created.

"As we focus on increasing market share through expanding our retail footprint, it is vital to further develop and enhance the resources that assist our new and existing retail locations," said Kevin Stitt, president of Gateway Mortgage Group. The addition of Robinson and Rothrock, he said, enhances those efforts.

In addition to recently launching correspondent, servicing and sub-servicing divisions, Stitt noted that Gateway has added three new retail offices in St. Louis and Omaha, Neb. and continues to pursue the establishment of branches in other strategic locations.

Richmond, Va.-based SunTrust Mortgage has expanded its leadership team by filling two new executive vice president positions with the addition of Peter E. Mahoney as executive vice president, mortgage strategy, and Jack Wixted as executive vice president and chief risk officer.

Mahoney, who most recently was managing director, mortgage markets, with IBM Corp., will be responsible for strategy, planning and the operational response associated with compliance with business practice changes affecting the mortgage industry and SunTrust. Wixted, who was chief risk officer with Pittsburgh-based PNC Mortgage, will serve as the senior risk executive for the mortgage business, overseeing credit and operational risk units.

Their hiring was announced by SunTrust CEO Jerome Lienhard.

Meanwhile Brian Vieaux left his position as senior vice president-national sales director at Aurora Bank in St. Louis to join Flagstar Bank as senior vice president and head of its home lending division.

Signaling its intention to drive deeper into the changing wholesale market, McLean, Va.-based First Guaranty Mortgage Corp. has named Patricia Trimble as its national wholesale sales manager, replacing Andrew Peters who is now FGMC's CEO. Trimble comes to FGMC after four years as senior vice president, national wholesale manager, with Little Falls, Minn.-based Home Savings of America, which was closed by the Federal Deposit Insurance Corp. on Feb. 24.

"FGMC is known for its niche products, and we will continue to promote those," said FGMC CEO Andrew Peters. "But having recently devoted a good deal of effort to bulking up our operations and compliance foundation, we are now ready to grow our mainstream programs. Patty is a devoted advocate for her clients, and her experience and drive make her the ideal choice to grow our wholesale division."

Santa Ana, Calif.-based Carrington Property Services LLC has promoted Renee Deane to fill a new position, executive vice president of operations, under which she will direct the growth of the company's real-estate-owned rental business. She had been overseeing Carrington's national rental division.

Carrington CEO Bruce Rose, in announcing Deane's promotion, said the company's REO rental business is "a strategically important aspect of our business."

Colorado Springs-based Mortgage Solutions of Colorado has hired Dennis Campbell -- who previously worked at JPMorgan Chase, Wells Fargo and Countrywide -- as vice president of operations. And it has promoted Robert Clennan, a branch manager, to vice president of sales.

Mortgage Solutions of Colorado President Alan Kalell said the two will help the company as it expands into new markets.

At Mutual of Omaha Bank in Omaha, Neb., Barry S. Major, former CEO and director of Nebraska Book Co., has come aboard as executive vice president and director of mortgage banking, resigning as a result from the bank's board, on which he had served since 2007.

The board of directors of Dallas-based Capstead Mortgage Corp. has appointed Michelle Goolsby to serve as an independent member of the board. With her appointment, the board will consist of eight members, seven of whom will be independent. Goolsby currently is a partner and investment committee member for Greenmont Capital Partners, a private equity firm based in Boulder, Colo.

Bethesda, Md.-based Beech Street Capital LLC, a full service lender with offices in nine states, has hired James Sherman as executive vice president for seniors housing. He previously led the senior housing and long-term care group as a senior managing director at Columbus, Ohio-based RED Capital Group LLC.

"We've been saying for a long time," said Sherman, "that the aging of the baby boomers was going to provide new opportunities in seniors housing. The moment has now arrived -- and Beech Street has positioned itself to help investors seize it."

Beech Street recruited another industry veteran from RED, Michael Byrnes, to serve as vice president - seniors housing.

"Bringing Jim and Michael on board reflects the depth of our commitment to seniors housing and health care as a core part of our business," said Beech Street President and CEO Grace Huebscher.

Brentwood, Tenn.-based Churchill Mortgage has hired Amy Delk, a former vice president at SunTrust Bank, as its newest account executive for community banking solutions.

Colorado Springs, Colo.-based Ent Federal Credit Union has promoted Tony Sloan, a mortgage loan officer, to real estate production manager. Prior to joining Ent more than four years ago, Sloan served as a broker and owner of Spartan Mortgage, LLC.

And Caliber Funding LLC, Irving, Texas, continues its growth as a leading national wholesale and retail mortgage lender with a new president -- Jim Ferriter -- who most recently served as Caliber's senior vice president of retail production. He succeeds former CEO Brian Simon, who is no longer with the organization.

Before joining Caliber in July 2011 Ferriter was a national sales director at Surety Lender Services, an executive vice president at GMAC ResCap, and a senior vice president and head of retail lending at JP Morgan Chase.

Caliber Funding recently expanded its operations with the addition of approximately 300 professionals from MetLife Inc.'s Home Loans division and the addition of four new regional markets, which include New England; the greater Washington, D.C. area; the Great Lakes area (Indiana/Michigan/Ohio); and the Philadelphia/New Jersey/Delaware area.

In the reverse mortgage field at least two companies have taken advantage of MetLife Bank's departure to, with an eye on their own expansion opportunities, hire former MetLife executives. A similar raiding of executives and others from Wells Fargo and Bank of America was done when those two lenders exited the reverse mortgage market in late 2010.

Bloomington, Ill.-based Mortgage Services III LLC has hired David Cesario, formerly the assistant vice president and regional sales leader for MetLife, to fill the new position of national sales and production manager for the reverse mortgage division.

Mortgage Services has been growing in the Chicago area as a reverse mortgage provider and with the addition of Cesario, who has been active in the reverse field for more than 10 years, is looking to expand its retail reverse mortgage business throughout Illinois, explained Stephen H. Gorman, vice president of MSI's reverse mortgage division.

"He will staff and direct our sales team and provide leadership towards the achievement of growth,” Gorman said.

At San Diego-based Security One Lending, Robert Sivori, who had served as vice president of MetLife's reverse mortgage division, has been hired as executive vice president. In that role, he will oversee loan production and East Coast operations, and also will manage strategic marketing, said Security One President and CEO Torrey Larsen.

Security One also hired Mike Mooney, formerly with MetLife's reverse mortgage wholesale business, to serve as senior vice president.

Larsen said Mooney, working from a new office in Bloomfield, N.J., will work with Sivori to expand Security One's small East Coast presence and to transition MetLife's former East Coast operations and former clients to Security One, which also hired some 130 other former MetLife employees to its marketing and sales team.

New general counsels have been hired at both Freddie Mac and Farmer Mac.

At Freddie, William H. McDavid now is executive vice president, general counsel and corporate secretary, replacing Alicia Myara, who had served as interim general counsel since November 2011. His past positions include co-general counsel and general counsel for JPMorgan Chase & Co. and associate general counsel for Bankers Trust Co.

At Farmer Mac, Stephen P. Mullery has been appointed as senior vice president, general counsel and secretary. He succeeds Jerome G. Oslick, who will retire after an 18-year career at Farmer Mac, including the last 12 years as an executive officer and general counsel. Oslick will continue to serve as an employee of Farmer Mac in an advisory role for the remainder of 2012.

Immediately prior to his appointment, Mullery served as deputy general counsel of Farmer Mac beginning in October 2009 and as assistant general counsel of Farmer Mac for the nine years before that.

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Jerry DeMuth is an award winning journalist who has been reporting for four decades.

e-mail Jerry at [email protected]

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