Career moves

Bank of America continues to say that it's committed to retail mortgage lending, but the megabank suffered another blow recently with the departure of one of its top loan producers in the nation, Kevin Budde of Southern California.

Long & Foster Real Estate Inc. said that Frank Dillow of its commercial division has been appointed to serve on the Commercial Alliance Committee of the Virginia Association of Realtors for 2012.

U.S. Mortgage Corp. appointed two new senior executives, John Korothy as vice president of credit operations and Marc Silvera as vice president of capital markets.

Prudential Mortgage Capital Co. said that Kip Kimble has joined the company's multifamily originations team.

Lennar Corp. said that Jay Mantz has joined its wholly owned subsidiary, Rialto Capital Management, to oversee the company's real estate investment management business as Rialto's president.

Auction.com named Elizabeth O'Brien as managing director and senior vice president.

Mortgage foreclosure vendor Lender Processing Services on Wednesday named Hugh R. Harris president and chief executive officer effective immediately.

Consumer lending experts urged a Senate panel on Tuesday to confirm a director of the Consumer Financial Protection Bureau this week.

Gleacher & Co. Securities Inc., New York, has hired a head of agency trading and four other managing directors as part of the ongoing expansion of its fixed income platform.

The Senate Banking Committee this week is expected to vote on the nomination of Richard Corday to be the first director of the Consumer Financial Protection Bureau.

Carrington Mortgage Services, Irvine, Calif., a fast growing retail/wholesale lender, this week hired Rick Sharga of RealtyTrac as executive vice president in charge of branding and marketing.

U.S. Mortgage Corp. appointed two new senior executives, John Korothy as vice president of credit operations and Marc Silvera as vice president of capital markets.

Walker & Dunlop said that Rob Rotach has joined the company as vice president and deputy chief underwriter of the FHA finance department.

Mercantile Capital Corp., a wholly owned subsidiary of Old Florida National Bank, hired four new associates. Mercantile appointed Kristina Clements and Ray Drew sales associates.

The Financial Services Roundtable said that Paul Smocer has been named president of BITS, the technology policy division of the roundtable.

Cornerstone Real Estate Advisers named Mark Higgins president. As president, Higgins will oversee Cornerstone's debt and equity real estate investments in North America, supervising all activities related to a diversified portfolio of commercial properties, including equity acquisitions, asset management and dispositions, as well as debt vehicles such as mortgages, CMBS and mezzanine loans.

The executive who helped build one of the world's leading real estate investment platforms at Morgan Stanley has landed in Miami, where he will oversee one of the country's largest home builder's workout business.

Reznick Group appointed Richard Hollowell as managing director and Christopher Ganan as manager in the firm's Western region real estate/financial institution and litigation consulting services.

Realty Income Corp. said that Sumit Roy has been named senior vice president, real estate acquisitions.

There is considerable private investor interest in purchasing government-sponsored enterprise debt, speakers at a Financial Services Subcommittee hearing said, but it may take a few government subsidy based incentives to bring new capital into the marketplace.