Career moves

Freddie Mac named Donald Layton, who previously held executive positions at E*Trade and Chase, its CEO.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Carrington Holding Co. hired Bill King as its chief investment officer and head of asset and risk management.

Wingspan Portfolio Advisors named Ed Delgado chief operating officer.

Crockett National Bank, San Angelo, Texas, has purchased a controlling interest in Legacy Mutual Mortgage, a San Antonio-based mortgage banker.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Stearns Lending Inc. this week hired former Bank of America and MetLife executive Brian Hale as its new chief executive officer.

Stearns Lending Inc., one of the nation’s largest wholesale funders, this week hired former Bank of America and MetLife executive Brian Hale as its new chief executive officer.

Experience 1 Inc., Irvine, Calif., holding company for Advantage Title Inc. and Title365 Inc., said that Eric Swenson has become the company’s chairman of the board.

Jay Sidhu has stepped down as the chairman of Atlantic Coast Financial because he believes the Jacksonville, Fla.-based lender was failing to “mitigate or significantly reduce risks facing the bank.”

In the May issue of Origination News, we published our annual ranking of the mortgage industries leading originators by volume. There is also a listing of top originators by units. Christopher Vincent Hussain repeated as the No. 1 originator.

There may be a simple reason why Wells won’t buy mortgages from a certain lender.

Quicken Loans Inc. plans to increase staffing at its Cleveland Web Center by at least 25%, as the company will add 100 new employees to the more than 300 already working at the location.

Carrington Mortgage Services promoted Ray Brousseau to executive vice president of mortgage lending, where he will oversee its retail and wholesale origination business.

John Robbins, the former chairman of the Mortgage Bankers Association, has yet another new mortgage banking venture up and running.

There was a lot of shock, sadness, and yes, grief here at SourceMedia at the recent passing of Neil Morse. We knew Neil as a gifted mortgage writer, an indefatigable road warrior, a thoroughly professional public relations executive, and finally as a colleague for his work with our conference group. He died way too soon (he was 62). But he had an impressive life.

Gleacher & Co. Securities hired two veteran MBS traders who, respectively, worked for The Royal Bank of Scotland and Keefe, Bruyette & Woods.

Genworth Financial Inc. reported first-quarter net income of $47 million, compared to a profit of $59 million one year prior.

The message at the 2012 Regional Conference of Mortgage Bankers Associations in Atlantic City from many of the speakers at the first residential lending general session and at a roundtable hosted by National Mortgage News/Origination News was there is a lot of uncertainty regarding the future direction of the industry. And that is because it is waiting on a definition of what will constitute a qualified mortgage. Yet, attendees at the show were upbeat that the worse times are behind them.