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Servicing Issues Drive Fairbanks Management Appointments

Subprimer heavy with newbies

August 20, 2003

By MortgageDaily.com staff


Fairbanks Capital Corporation recently named several new executive hires.

The Salt Lake City-based lender has hired three senior vice presidents, four vice presidents and five directors, for a total of 12 new hires.

"Their hiring is part of our focus on improving our loan servicing for borrowers, while continuing to help financial institutions manage the risk of nonprime residential mortgage loans," said James H. Ozanne, chief executive officer.

Fairbanks has been embroiled in controversy lately over its loan servicing. The subprime lender now has Fannie Mae employees conducting in-house oversight to ensure proper servicing.



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