Career moves

PHH Corp. said its recently departed chief financial officer will receive $400,000 in severance, and then a $200,000 lump sum payment in March of next year.

Shore Financial Services Inc., Birmingham, Mich., has hired David Hall as president of its retail mortgage division, replacing Robert Rahal, who was promoted to vice chairman of the company.

The chief financial officer of nonperforming loan investor Kondaur Capital departed the company about 10 days ago – at the same time that the NPL investor’s founder and chairman Jon Daurio was forced out by the firm’s board, National Mortgage News has learned.

Residential Credit Solutions, a servicer whose client base includes Fannie Mae, this week hired Jim Mitchell as vice president of national business development.

Total Mortgage Services hired Victoria Bextel as head of national operations for both its retail and wholesale channels.

Joe Rossi, senior vice president of operations and technology at Freddie Mac, is leaving the government controlled secondary market giant, according to industry officials close to the situation.

Total Mortgage Services, Milford, Conn., which continues to expand its presence in wholesale lending, on Monday named two new hires on the operational side of the business.

The Treasury Department this week appointed a Harvard University economics professor to be in charge of market research at the new Consumer Financial Protection Bureau.

Mike Kulick, a mortgage banking veteran with more than 40 years of HUD/FHA experience, has joined the Los Angeles HUD/FHA office of Berkadia Commercial Mortgage.

John Daurio, founder, chairman and CEO of Kondaur Capital, resigned from the nonperforming loan investor effective Monday with his second in command, John Kontoulis named as his replacement.

John Daurio, chairman and CEO of Kondaur Capital, is stepping down as the day-to-day manager of the nonperforming loan investing firm, according to officials close to the situation.

While President Obama is the one who chooses nominees for key financial services policy posts, it is a Republican from Alabama, Sen. Richard Shelby, who appears to have a big say in whether a candidate is actually confirmed.

Sheila Bair will officially step down as chairman of the Federal Deposit Insurance Corp. on July 8, the agency said Monday afternoon.

Mark Oman, a senior executive at Wells Fargo & Co., who helped build the bank’s mortgage business into one of the most competitive in the industry, announced that he will retire by yearend.

Alan Todd plans to join Bank of America Merrill Lynch in August as head of U.S. commercial mortgage-backed securities research.

Credit Suisse this week hired Roger Lehman as managing director and head of its commercial mortgage-backed securities department, responsible for research and analysis. His appointment is effective August 1.

Marty Gruenberg, the No. 2 at the Federal Deposit Insurance Corp., is expected to be nominated shortly as the agency's chairman, according to several sources.

Real Estate Mortgage Network Inc., a national mortgage lender based in River Edge, N.J., opened a new office in San Diego.

Residential Finance Corp., Columbus, Ohio, has hired Daniel Jacobs, former 1st Metropolitan CEO, to head up its new retail branching operation, ProLending Network.

Frank Keating, the head of the American Bankers Association, late Tuesday reneged on his endorsement of Elizabeth Warren as director for the Consumer Financial Protection Bureau within hours of saying the trade group would "be fully supportive" of her nomination.