Career moves

Deutsche Bank Securities Inc. has added five mortgage-backed securities researchers.The Wall Street firm has named Arthur Frank as director and head of agency MBS research and Ying Shen as director and head of non-agency MBS research. Deutsche Bank also has hired Yan Dong, William Natcher and Jichun Wu as vice presidents in MBS research. Mr. Frank previously was a director in Barclays Capital's mortgage strategy group and Mr. Shen formerly was head of credit trading modeling at JPMorgan. The three new MBS research VPs hired by Deutsche Bank previously worked for UBS, National City Corp. and Freddie Mac, respectively.

Alan L. Stinson has been promoted to chief executive officer of Fidelity National Financial Inc., Jacksonville, Fla., and Raymond R. Quirk and Brent B. Bickett have been named co-presidents of the company.Mr. Stinson and Mr. Quirk are currently co-chief operating officers of Fidelity National, and Mr. Bickett is currently its president. The company, which provides title insurance, specialty insurance, and claims management services, can be found on the Web at http://www.fnf.com.

Preston Martin, who served as chairman of the Federal Home Loan Bank Board and was involved in the formation of Freddie Mac, died of heart disease May 30 in San Francisco at the age of 83, according to the San Francisco Chronicle.Mr. Martin was vice chairman of the Federal Reserve Board from 1982 to 1986, and he founded PMI Mortgage Insurance Co. in the early 1970s after heading the FHLBank Board, the predecessor agency of the Federal Housing Finance Board. He was also instrumental in the creation of NeighborWorks America. "Preston Martin, at the helm of the Federal Home Loan Bank system in 1970, was ahead of his time in supporting community-based public-private partnerships as a viable approach to the revitalization of urban residential areas," said Ken Wade, chief executive officer of NeighborWorks. "In an era when conflict was more common than cooperation, Preston Martin helped propel NeighborWorks from very humble beginnings into a national housing and community development network."

Kenneth Ferrari has been named senior vice president of the Eastern division of First Magnus Financial Corp., a privately held mortgage banking company based in Tucson, Ariz., and Stephen Olimpio has been promoted to senior vice president of the Northern division.Mr. Ferrari will be responsible for wholesale prime and alternative-A lending in New England and mid-Atlantic markets, and Mr. Olimpio will focus on the Northeast and upper Midwest markets, First Magnus said. Mr. Ferrari has more than 16 years of experience in mortgage lending, most recently as senior business line executive for Mortgage Lenders Network USA's Prime Wholesale division. Previously, he spent 10 years with Fleet in various production management positions. Mr. Olimpio has served as First Magnus' regional vice president of the Northeast division for five years. He has 12 years of wholesale lending experience and has worked with some of the top companies in the industry, including North American Mortgage, Accubanc, Crossland Mortgage, and Wells Fargo, according to First Magnus. The company can be found on the Web at http://www.firstmagnus.com.

Harvey W. Goldberg has been named president of Dover Mortgage Co., Charlotte, N.C.Mr. Goldberg succeeds the company's founder, W. Edward Joye, as president. Mr. Joye resigned in March. Mr. Goldberg has more than 20 years' experience in the mortgage industry, Dover said. FNB United Corp. is the holding company for Dover Mortgage.

Douglas J. Donatelli has been named chairman of the board and chief executive officer of First Potomac Realty Trust, a real estate investment trust based in Bethesda, Md.Mr. Donatelli will succeed Louis T. Donatelli, who will continue to serve as a trustee, the industrial and flex-property REIT said. Douglas Donatelli has been president, CEO, and trustee of the company since its founding in 1997. The REIT said its portfolio now contains 70 properties totaling 11.2 million square feet.

Louis J. Freeh, a former director of the Federal Bureau of Investigation, has been elected to the board of directors of Fannie Mae.Mr. Freeh, who will serve on the board's compliance and compensation committees, is president of Freeh Group International LLC, a Delaware-based practice of former federal judges and former senior FBI leaders who provide legal, governance, investigative, litigation, and risk management services. Mr. Freeh served as general counsel, corporate secretary, and ethics officer at MBNA Corp., as well as vice chairman of MBNA America Bank NA from 2001 to 2006, Fannie Mae said. Before serving as director of the FBI from 1993 to 2001, he was the U.S. district judge for the Southern District of New York from 1991 to 1993. Fannie Mae can be found online at http://www.fanniemae.com.

The Department of Housing and Urban Development has promoted Paul B. Manchester to head up the research division that analyzes Fannie Mae and Freddie Mac data for mission compliance.Mr. Manchester previously served as a senior economist at the financial institutions regulation division, which provides analytical support for HUD's regulatory oversight of the two government-sponsored enterprises. This includes research for setting the affordable housing goals and evaluating the GSEs' loan-level data to ensure compliance with the goals. If Congress passes GSE reform legislation, Mr. Manchester's division might be transferred to a new regulatory agency created to supervise Fannie, Freddie, and the Federal Home Loan Banks.

Paula Stretz has been named managing director of eMagic, a subsidiary of Mortgage Guaranty Insurance Co., Milwaukee.Ms. Stretz was most recently national accounts manager of eMagic. She will be responsible for MGIC's eMagic and Myers Internet subsidiaries. MGIC can be found on the Web at http://www.mgic.com.

John U. Sepulveda has been named senior vice president for operations at the National Association of Mortgage Brokers.Mr. Sepulveda, who brings more than 25 years of experience in the housing industry and the federal government, was most recently chief executive officer at the National Association of Hispanic Real Estate Professionals. He previously held senior-level positions at the Federal Housing Administration and the U.S. Office of Personnel Management. Mr. Sepulveda also worked as the director of housing and industry relations at Freddie Mac. The NAMB can be found online at http://www.namb.org.

Kent Saari has been named chief operating officer of Capital Markets Cooperative, a provider of expertise and economies of scale in the secondary mortgage market based in Ponte Vedra Beach, Fla.CMC also named two senior vice presidents: Mike Cook as SVP of national accounts and Tim Hood as SVP and national sales manager. Mr. Saari, who has more than 20 years of mortgage banking experience, specializes in mortgage interest rate risk management, delivery optimization, mortgage pipeline management, and warehouse management, CMC said. He most recently managed capital markets for Waterfield Mortgage. Mr. Cook has held senior positions at Washington Mutual Bank, Tuttle & Co., American Savings Bank, and Fannie Mae, and Mr. Hood has held management posts at ABN AMRO Mortgage Group, FNBA, and General Electric Mortgage Insurance Co. CMC can be found online at http://www.capmkts.org.

Icon Residential Capital LLC, Newport Beach, Calif., has announced the formation of a wholesale mortgage lending division to be headed by Kathleen Lipps as national production manager.Icon said it plans to redefine wholesale lending by concentrating on building long-term relationships with brokers. "These relationships will, in turn, allow brokers to better serve their customers and respond to their individual needs," the company said. Ms. Lipps has over 16 years of experience in mortgage lending, having held senior positions with several national mortgage lenders in nearly every aspect of retail and wholesale loan production, Icon said. The company can be found on the Web at http://www.iconrescap.com.

C.D. Davies has been named chief executive officer of LendingTree LLC, Charlotte, N.C., and Bob Harris has been named president and chief operating officer of the company.Mr. Davies was most recently president and CEO of Wachovia Mortgage Corp., where he was employed for 18 years, according to LendingTree's parent company, IAC. Mr. Harris joined LendingTree in 2000 as vice president of marketing and was named chief marketing officer in 2004. He previously held various positions at The Coca-Cola Co. and McCormick & Co. LendingTree, an online lending exchange, is an operating company of IAC, which describes itself as "an interactive conglomerate." The two companies can be found online at http://www.lendingtree.com and http://www.iac.com.

Mortgage-backed securities researcher Art Frank has left Barclays Capital.A spokeswoman would not provide any additional information about the departure, and Mr. Frank could not be reached for comment. Mr. Frank had been an agency MBS researcher for Nomura Securities International Inc. before joining Barclays.

Mark L. Korell has been named chief marketing officer of Root Markets Inc., which operates a New York-based commodities exchange for trading and monetizing Internet-generated consumer leads.Mr. Korell was most recently a senior managing director at W.J. Bradley Co., a national private equity firm. Before that, he was chairman and an owner of Stonecreek Funding Corp. Previously, he served as president of lender and investment services at Wells Fargo Home Mortgage Inc., where he "oversaw the negotiations, purchase, and successful operational integration of Prudential Home Mortgage, a $3 billion acquisition," Root Markets said. Mr. Korell has also served as president and chief executive officer of GMAC Mortgage Group and of Residential Funding Corp. Root Markets can be found online at http://www.rootmarkets.com.

S. Trezevant Moore Jr. has been promoted to the post of chief executive officer of Luminent Mortgage Capital Inc., succeeding Luminent founder Gail P. Seneca, who will remain as chairman.Mr. Moore joined the company in March 2005 as president and chief operating officer and has served as a director since November 2005. Luminent said Mr. Moore has 30 years of experience in the capital markets, with a focus on mortgages. Before joining Luminent, he headed capital markets operations at a major mortgage insurer and ran three mortgage conduit operations at investment banks, Luminent said. The company can be found on the Web at http://www.luminentcapital.com.

The international division of First American Title Insurance Co., Santa Ana, Calif., has established what it says is the first wholly foreign-owned enterprise dealing with real estate guaranty in China.First American has named Jinqiang Shi (Gene Shi) as managing director and president of the new company, First Title (Beijing) Real Estate Guaranty Co., which is a provider of the Chinese version of escrow products and services to banks, real estate professionals, and others. The company said it believes that a Chinese private property law that goes into effect in October, combined with Chinese government policies friendly to foreign enterprises in the financial services sector, will be conducive to the new venture.

After joining the Mortgage Bankers Association and starting the Mortgage Industry Standards Maintenance Organization over seven years ago, Gabe Minton is stepping down to assume the role of chief strategy officer at Mortgage Cadence, a Denver-based enterprise lending solution company.A source close to the situation confirmed that Harry Gardner will assume Mr. Minton's responsibilities at the MBA and that Dan Szparaga, who runs the commercial portion of MISMO, will now oversee the residential portion as well. Both appointments are interim, but are expected to become permanent. Mr. Minton told MortgageWire that he will miss the MBA and running MISMO, but looks forward to moving on to Mortgage Cadence and continuing to participate in MISMO as a member. "I honestly couldn't think of a better fit for me than Mortgage Cadence," he said. The company can be found on the Web at http://www.mortgagecadence.com.

David L. Adams has been named executive vice president of Pacific Coast National Bank, San Clemente, Calif., and will head its Real Estate Industries Group.The group will offer acquisition, redevelopment, construction, and permanent financing for a variety of property types, the bank said. Mr. Adams was most recently income property group manager at the former Vineyard Bank in Irvine, Calif. Pacific Coast National Bank can be found on the Web at http://www.pacificcoastnationalbank.com.

Arthur Sterbcow, president of New Orleans-based Latter & Blum Realtors Inc., has been elected chairman of the Real Estate Services Providers Council, a Washington, D.C.-based trade association.Other newly elected RESPRO officers are: vice chairman, Ronald Peltier, president and chief executive officer of HomeServices of America Inc., Minneapolis; president, Susan E. Johnson, RESPRO executive director; secretary, Stephen D. Morrison, vice president of Wells Fargo Mortgage Corp., Des Moines, Iowa; and treasurer, George Eastment III, president of Long & Foster Financial Services Inc., Fairfax, Va. The organization can be found on the Web at http://www.respro.org.