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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.

Executive Pool Rapidly Changing

Recent mortgage-related executive appointments, resignations

Sept. 29, 2009


The ousted president of PHH Mortgage's parent has joined Fannie Mae, while a former Fannie executive has joined Ellie Mae's board of directors. Several other mortgage-related firms also shook up their senior management teams.

Terence W. Edwards was appointed executive vice president, credit portfolio management at Fannie Mae, according to a Sept. 16 statement. In June, Edwards was booted as president and chief executive officer of PHH Corp. following a boardroom battle with PHH investors who forced Edwards and chairman A.B. Krongard out.

At Fannie, Edwards will lead the national servicing organization as well as the national property disposition center and the national underwriting center. He'll be responsible for executing the Making Home Affordable program, managing real estate owned and loss mitigation activities, and overseeing and managing servicing guidelines and policies.

Former Fannie chief business officer Robert Levin joined Ellie Mae's board of directors, an announcement last week said.

A recent news release noted that Douglas Harris was hired as the chief operating officer of Columbus, Ohio-based Residential Finance Corp. Harris spent a decade as a "senior" manager at US Bank.

Data reported by the Better Business Bureau indicates Jay Farner is now the CEO of One Reverse Mortgage LLC -- the reverse mortgage lending subsidiary of Quicken Loans Inc.

US Central Federal Credit Union CEO James Nance was ousted by the US Central Conservatorship Advisory Board, a news release Friday from the National Credit Union Administration indicated. Nance, who took over after US Central was thrown into conservatorship in March, was replaced by US Central Senior Vice President and General Counsel Francois Henriquez.

"Today's action was taken due to divergent views about how to move US Central forward," NCUA stated.

The NCUA announced last week that Scott Hunt was named director of the office of corporate credit unions. Hunt has been with the agency since 1989.

San Francisco-based UnionBanCal Corp. said on Wednesday that John F. Woods will replace David I. Matson as vice chairman of the company's financial management group on Oct. 13. Woods was the chief financial officer of J.P. Morgan Chase & Co.'s home lending business.

In addition to a career at failed Washington Mutual Bank, which he reportedty helped merge with Chase, Woods worked at Freddie Mac and was a partner at Arthur Andersen -- which collapsed in 2002.

Michael J. Brown was named vice chairman and chief operating officer of IBERIABANK Corp. according to a press release earlier this month. He has been with the Lafayette, La.-based bank since 1999 and most recently was responsible for managing the company's markets.

Huntington Bank said today that Daniel J. Neumeyer was hired as chief credit officer. Neumeyer, whose most recent job was chief credit officer for Comerica Bank, starts his new assignment on Oct. 5.

San Juan, Puerto Rico-based First BanCorp. announced yesterday the appointment of Chief Operating Officer Aurelio Alemán as president and CEO. He replaces Luis M. Beauchamp, who resigned over questionable personal transactions he failed to report to the board of directors. In addition, José Menéndez-Cortada was elected chairman.

John Woods photo
UnionBanCal photo of John Woods

Caroline Reaves photo
Mortgage Contracting photo
of Caroline Reaves

Caroline Reaves was named CEO of Mortgage Contracting Services, replacing Allan Martin, the property preservation and inspection service provider announced yesterday. Reaves, who starts her new job on Oct. 1, was already an executive for the Tampa, Fla., firm and previously worked at First American Corp.

In a statement this month, FNC Inc. said it hired appraisal veteran Stephen D. Conlin as risk manager.

Ross J. Kari, who was hired to serve as Freddie Mac's chief financial officer beginning next month, negotiated a $2 million signing bonus and annual compensation of as much as $3.5 million, the Associated Press reported.

Scott Chisholm has left his job as a managing director at Prudential Mortgage Capital Co. to become a managing director at Redwood Trust Inc., a Sept. 21 announcement stated.

Titan Lenders Corp. announced this month the addition of Janet Manning as vice president. Manning, a 25-year mortgage veteran, will focus on business development for back-office and mortgage-fulfillment services to mortgage bankers.

Marvin Stone has joined Stewart Lender Services as senior vice president -- strategic projects, while Laurie Pyle has expanded her role as chief information officer, according to a news release last week.

The StoneHill Group said Thursday that it hired Terry L. King as national director of marketing and sales. In addition, Barry Tomlinson was named special projects manager, and Douglas Parker was appointed quality control manager.

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

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