GMAC Financial Services has hired a new secondary executive, while a former subprime executive has re-emerged at another lender. The Mortgage Bankers Association has recently seen lots action among its ranks.
GMAC this month hired Jeff Gravelle as senior vice president and director of secondary capital markets, according to a statement. In his new role, Gravelle manages the company's risk positions in originated and acquired mortgage assets. He also is charged with maximizing income on loans sales.
Gravelle spent most of his 11-year career with Bear Stearns, where most recently he was managing director and principal on the mortgage trading desk. He'll report to Adam Glassner -- who himself was hired in April -- and work from Fort Washington, Pa.
David Shirk was hired as the chief information/compliance officer of Walla Walla, Wash.-based NetMore America Inc., a news release indicated. The new executive will operate from Clackamas, Ore.
Shirk, who will oversee information technology as well as compliance and growth strategies, previously worked at Countrywide Home Loans.
Former Cityscape Corp. chairman and CEO Robert Grosser is now president of the Homestar Direct group of Luxury Mortgage. He acquired Cityscape in 1987 and headed the subprime firm through 1997.
The new senior vice president of Home Federal Bank's mortgage lending division is David Barber, a statement Monday indicated. Barber comes from First Family Mortgage Inc. and also previously worked at Centex Home Equity Corp.
Keith McNulty was named senior vice president, strategy and process improvement, at Generation Mortgage Co., a press release this month said. Before joining the reverse mortgage lender, McNulty worked at Bank of America Corp., Nortel Networks and SunTrust Robinson-Humphrey.
Atlanta-based Generation also announced that it hired Amy Lynn Davies human resources director. Davies' prior employers include Silverton Bank, Bell South and AT&T.
Tish Ashley was appointed vice president of NexBank's new residential lending division, according to a statement last week. She founded Dallas-based The Funding Source in 1997, "a major company in the North Texas residential mortgage industry."
HomeBancorp Inc. said yesterday that Jennifer R. Summers was named vice president -- mortgage branch manager at a new Lakeland, Fla., location.
The new managing director and chairman of the newly formed commercial real estate loans and properties capital markets group at NewOak Capital is Amy Levenson, a Sept. 30 statement said. The 25-year Wall Street veteran previously worked at Goldman Sachs and Barclays Capital and obtained an MBA in finance from Columbia Business School and a BA from Columbia University.
Michael D. Berman was sworn in as chairman-elect at the Mortgage Bankers Association annual conference in San Diego this week. Berman is chief executive officer of CW Capital and founded CW Financial Services, where he sits on the board of directors..
Also announced from San Diego was the election of Michael W. Young as MBA vice chairman. Young is chairman of Cenlar FSB.
Tom Koonce will join MBA as vice president of legislative affairs on Nov. 2, an announcement said.
The Washington, D.C., trade group also hired Brad Cheney as director of legislative affairs and promoted Pace Bradshaw to director of government affairs. Cheney was chief of staff for U.S. Rep. Brad Sherman (D-Calif.).
Ventras Capital Advisors LLC announced the addition of Gregory J. McManus as a principal in the Denver-based firm's Philadelphia office. McManus previously served as chief financial officer of Capmark Financial Group Inc. -- which is on the verge of collapse.