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Mortgage Firms Bolster Executive Ranks

The nation’s real estate finance sector has been busy building its management ranks. Several of the appointed executives previously worked at units of Bank of America Corp.

Lance F. Drummond has been elected to Freddie Mac’s board of directors, a July 16 news release said.
He was brought on to the board because of his experience in “business transforming strategy development and execution, operations, technology and process re-engineering.”

Drummond worked at TD Canada Trust for three years, while he spent around seven years at BofA. He was also employed for two years at Fiserv.

On July 15, Stonegate Mortgage Corp. announced that Scott Houp was appointed senior vice president, third party origination eastern division manager. He most recently worked for Kinecta Federal Credit Union, though his 25 years in the business also included stints at MetLife Home Loans and BofA.

In the same news release, Indianapolis-based Stonegate said Dwayne Cook has been appointed to senior vice president, third-party originations program manager.

Also announcing two executive appointments was Nationstar Mortgage Holdings Inc., which said earlier this month that Steve Covington was hired as chief compliance officer.
He was recruited from Morgan Stanley and also spent time at Fleet Mortgage Corp., which is was acquired by BofA, and later First Horizon Home Loans.

The second appointment announced by Nationstar was that of
Tony Ebers to the role of executive vice president of originations. Ebers has 25 years in financial services, including jobs at ServiceLink and OneWest Bank.

PrimeLending said last week that Mike Watkinson has been hired on as regional manager for the Northeast.
Watkinson, who has reportedly spent a quarter-century in the industry, previously worked at BofA and National City Mortgage. Most recently, he was employed by Embrace Home Loans.

Edward Parnell
has been appointed regional vice president at ResMac Inc., the company said earlier this month. Parnell, who joined the firm in 2011, will oversee development and recruiting retail branches. The statement said he has 33 years’ experience in mortgage lending.

In Asheville, North Carolina, HomeTrust Bancshares Inc. issued a July 20 statement indicating that Kristin Y. Powell has been hired as senior vice president, director of mortgage lending. Powell reportedly has 15 years’ experience in mortgage lending. Among her prior employers are
BofA, PNC Mortgage and RBC Bank.

The new marketing manager at GSF Mortgage is Missy Palitzsch, a July 21 statement said. Her 14 years’ experience includes time at a title company and as a real estate agent. She’ll recruit new loan originators in addition to her marketing responsibilities.

In commercial mortgage lending, Mike Edelman has been recruited by Meridian Capital Group as senior managing director.
He’ll report directly to the New York-based firm’s chairman and chief executive officer, Ralph Herzka. Edelman previously worked at Capital One Multifamily Finance and Freddie Mac.

“Mr. Edelman will be responsible for originating new debt opportunities, augmenting existing client relationships, and providing leadership of Meridian’s national agency business,” Meridian said in the statement. “He will also play a central role in sourcing and placing loans generated by Meridian’s newly-formed investment sales platform.”

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