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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.

3 Chairmen Out, 3 Presidents In

Recent mortgage-related executive activity

Sept. 14, 2009


A mortgage executive has been found to replace the spot left open by the new Federal Housing Administration Commissioner. A Texas-based net branch operation has hired an executive to recruit more branches, while the chairmen of two financial institutions and a commercial mortgage lender are stepping down.

Jeffrey S. Detwiler has been named president and chief operating officer of The Long & Foster Companies, a Sept. 3 statement said. Detwiler replaced David H. Stevens, who left to serve as President Barack Obama's choice for FHA commissioner.

Chantilly, Va.-based Long & Foster is parent to Prosperity Mortgage Co. and Walker Jackson Mortgage Corp.

Detwiler, a Princeton University graduate, previously served as chief production officer at Countrywide Home Loans' Institutional Mortgage Services Group. He also managed warehouse lending and created a conduit purchase business while working for Donaldson, Lufkin Jennrett.

Regions Financial Corp. announced this month that it has separated its credit approval process from the process for assessing risk in the company's loan portfolio. Tim Laney was named interim chief credit officer as the Birmingham, Ala.-based searches for a permanent replacement. Former chief credit officer Michael J. Willoughby was named director of credit risk.

photo of Jeffrey S. Detwiler
Long & Foster photo of Jeffrey S. Detwiler

photo of Steve Hakes
Cendera Funding photo of Steve Hakes

Steve Hakes was hired as national sales director of Cendera Funding, a Sept. 4 news release said. Hakes, who spent four years in executive positions at the Tarrant County Association of Mortgage Brokers, will recruit new branches in the South for the Ft. Worth, Texas-based firm.

Commercial mortgage lender Realty Finance Corp. announced this month the resignation of Ray Wirta as chairman. Douglas Eby, who has four years on Realty Finance's board, was elected as the new chairman.

R. Stan Puckett will retire as chairman and chief executive officer of Green Bankshares Inc. and subsidiary GreenBank on March 31, 2010, a statement earlier this month said. Puckett worked 21 years at the Greenville, Tenn., institution, which will retain a recruiting firm to find a replacement CEO.

Yadkin Valley Financial Corp. said today that it hired Jan H. Hollar to be its chief financial officer. The 30-year banking veteran came from a CFO position at blueharbor bank.

Mortgage Harmony Corp. appointed Shane Chalke as its president, a press release Wednesday said. Chalke will oversee the "commercialization" of products at the company, which designs, develops and distributes residential loan products for financial institutions and mortgage firms.

Oxford, Miss.-based FNC Inc. hired former FTN Financial executive Glen Evans as its new president on Sept. 1, according to an announcement Thursday. The appraisal technology firm hopes that the addition of Evans will help expand its client base.

Keith Kemph was hired as vice president of sales at Blueberry Systems LLC, a news release today said. Kemph, who previously worked at Calyx Software and First Franklin, will be responsible for recruiting small and medium-sized mortgage lenders as customers.

E*TRADE Financial Corp. announced last week that Chairman and CEO Donald H. Layton will step down by the end of this year. Layton joined the company's board in late 2007 and took over as CEO shortly after. He will work with the board of directors to find a new CEO.

Former Beneficial Corp. chairman and chief executive officer Finn M.W. Caspersen was found dead last week from an apparent suicide, Bloomberg reported. Beneficial was sold to HSBC Finance Corp. in 1998.

photo of Keith KemphBlueberry photo of Keith Kemph

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

[email protected]

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