Career moves

John G. Stumpf, group executive vice president of community banking at Wells Fargo & Co., has been named president and chief operating officer of the San Francisco-based company.Mr. Stumpf has been with Well Fargo for 23 years, and has been an EVP in his current role for three years, the company said. He has been responsible for regional banking, diversified products, private client services, Internet services, and Wells Fargo Services. Mr. Stumpf joined the former Norwest Corp. in 1982 as a senior vice president and chief credit officer for Norwest Bank, and with the merger of Wells Fargo and Norwest in 1998 he became head of the Southwestern Banking Group, Wells Fargo said. Mark C. Oman, senior EVP of the company's Home and Consumer Finance Group, will report to Mr. Stumpf. The company can be found online at http://www.wellsfargo.com.

John J. Mack has resigned from the board of directors of Cousins Properties Inc., Atlanta, citing increased commitments to his new position as chairman and chief executive officer of Morgan Stanley.Mr. Mack joined the board of Cousins, a real estate investment trust, in 2001. The company said his seat on the board will not be immediately filled. The REIT can be found on the Web at http://www.cousinsproperties.com.

Stillman Knight Jr. has left the Department of Housing and Urban Development, where he was in charge of the FHA multifamily program, to join a nonprofit foundation that owns and rehabilitates affordable rental properties.Reba Cook is now the acting deputy assistant secretary overseeing the Federal Housing Administration multifamily program. Mr. Knight was a multifamily developer and builder before joining HUD in 2003. He starts his new job as executive vice president for the National Housing Partnership Foundation Aug. 8. Earlier this year, Mr. Knight was mentioned as a possible candidate for FHA commissioner, but the president chose White House staffer Brian Montgomery.

Nitin Dave has been named executive vice president and director of loan administration and finance at Pinnacle Financial Corp., an independently owned direct mortgage lender based in Orlando, Fla.Mr. Dave has more than 25 years of experience in mortgage banking, mortgage servicing operations, commercial lending, consumer banking, and investment banking, Pinnacle said. Before joining Pinnacle, Mr. Dave’s career included management-level positions at Fannie Mae; Taylor, Bean & Whitaker Mortgage Corp.; and Citizens Trust Bank. Pinnacle also announced that Peter Weigold has been named vice president for secondary marketing. Mr. Weigold was most recently head of the secondary marketing department at American Home Mortgage. Pinnacle can be found online at http://www.pinnaclefinancial.com.

Richard H. Wohl has been named president of IndyMac Bank FSB, Pasadena, Calif., a newly created post that will oversee the primary business divisions of the bank's thrift and mortgage banking segments.Mr. Wohl, who was most recently chief executive officer of IndyMac Mortgage Bank, has also been elected to IndyMac Bank's board of directors. Frank M. Sillman will replace Mr. Wohl as CEO of the mortgage bank. Mr. Sillman was most recently CEO and executive vice president of the Mortgage Professionals Division of IndyMac Mortgage Bank. Michael W. Perry, chairman and CEO of IndyMac Bancorp Inc., the holding company for IndyMac Bank, said the mortgage bank under Mr. Wohl's leadership has grown from the 26th-largest single-family residential mortgage originator in the United States to the 11th-largest. The bank can be found online at http://www.indymacbank.com.

In an effort to bolster its residential lending business, GMAC Mortgage, Horsham, Pa., has hired two executives away form Chase Home Finance, Edison, N.J., and another from PHH Mortgage, Mt. Laurel, N.J., industry sources have told MortgageWire.Joining GMAC from Chase is Jim Ferriter, who will serve as executive vice president of retail lending, and Dave Stadler, senior vice president in charge of GMAC's "Lendscape" project, which entails installing a common origination platform throughout the company. GMAC also hired Bob Groody as its EVP and chief financial officer. Mr. Groody left PHH to join GMAC, the nation's seventh-largest lender. Mr. Groody is a replacement for the company's departing CFO, but the other two hires are serving in newly created positions. (See the Aug. 1 issue of National Mortgage News for the full details.)

L. Stephen Smith, president and chief executive officer of PMI Mortgage Insurance Co., Walnut Creek, Calif., has been elected president of the Mortgage Insurance Companies of America.Mr. Smith succeeds William V. Nutt Jr., president and chief executive officer of AIG United Guaranty, who continues to serve as a member of the association's executive committee. MICA said Mr. Smith's career in housing finance spans 34 years. He joined PMI in 1979. Serving as MICA vice president and secretary/treasurer will be William A. Simpson, chairman of Republic Mortgage Insurance Co. and a past president of MICA. The organization can be found online at http://www.micanews.com.

Real estate industry veteran David Miller has been named executive vice president of national sales at the Real Estate Solutions division of Fidelity National Financial Inc., Jacksonville, Fla.FNF, a provider of products, services, and technology to the financial and real estate industries, said Mr. Miller will focus on cultivating the division's broker-based business, as well as forming alliances with national real estate franchises and regional "mega brokers." A 30-year veteran of the residential real estate industry, Mr. Miller was most recently executive vice-president and chief business development officer for First Team Real Estate in Orange County, Calif. He was previously senior vice-president of national sales at Cendant Real Estate Division, and he served "in a strategic capacity" at Coldwell Banker, FNF said.

Michael E. Wade has been named to the newly created position of vice president for external operational risk management at Freddie Mac.Mr. Wade's duties include the analysis of Freddie Mac's seller/servicer underwriting processes, management of on-site quality control and operational audits, and the development and implementation of quality control and operational policies and procedures, Freddie Mac said. Mr. Wade comes to Freddie Mac from Wells Fargo Home Mortgage, where he was most recently senior vice president of credit policy and strategy. Other positions he held at Wells Fargo include senior vice president of institutional risk management and vice president of quality control. Freddie Mac can be found online at http://www.freddiemac.com.

Matthew Connelly has been named executive vice president of corporate strategy at GoApply Inc., a mortgage and financial services organization based in Aliso Viejo, Calif.Mr. Connelly will focus on developing new technologies and electronic business applications to help streamline the application and decision-making processes for consumers seeking to improve their financial health, the company said. He is also charged with building the network of accredited business partners who help service GoApply's consumer base. Mr. Connelly was most recently senior vice president of Home Loan Center in Irvine, Calif. GoApply can be found online at http://www.goapply.com.

The Bond Market Association has chosen Randolph Snook, a long-time fixed-income market participant, to be executive vice president and head of its New York office.Mr. Snook was a partner at member firm Goldman, Sachs & Co. and has worked for many years in the corporate credit markets at Goldman and, before that, Drexel Burnham Lambert. As EVP, Mr. Snook will be responsible for overseeing day-to-day operations in the association's New York office, including the various U.S.-based asset class divisions (mortgage-backed securities, municipals, securitized products, governments, and funding) as well as technology and operations.

Bill Beckmann has been named president of St. Louis-based CitiMortgage.Mr. Beckmann has been employed by Citigroup for more than 20 years, most recently as chief servicing and technology officer for its Real Estate Servicing and Technology division. In that capacity, he oversaw servicing and technology for Citigroup's residential real estate properties, including CitiMortgage, CitiFinancial Mortgage, Citicorp Trust Bank, Private Mortgage Operations, CitiFinancial Network, and Chesapeake Appraisal and Settlement Services, the company said. Mr. Beckmann was previously president of specialty lending in Citigroup's U.S. Consumer Assets Division. CitiMortgage can be found online at http://www.citimortgage.com.

Bob Jakubowicz has been named executive director of retail sales at Oak Street Mortgage LLC, Carmel, Ind., replacing company president Glenn Brunker in that role.Mr. Jakubowicz was most recently senior director of retail sales with Oak Street. The company said he "has a track record of building high-growth sales organizations" with several large financial institutions, such as Bank One, Household International, and First National Bank of Chicago. Oak Street can be found online at http://www.oakstreetmortgage.com.

GMAC Mortgage Corp., Horsham, Pa., has announced that industry veteran Tom Donatacci has returned to the company as senior vice president in its Business Development Group.GMAC Mortgage said Mr. Donatacci will be responsible for all third-party subservicing sales and marketing. In his previous stint with GMAC Mortgage in the late 1990s, Mr. Donatacci was an executive in the company's capital markets operation and helped build its servicing portfolio, the company said. In addition, he was involved in high-profile deals such as the acquisition of the mortgage servicing operations of Wells Fargo Bank. He was most recently the head of the mortgage servicing transactions business at Lehman Brothers/Cohane Rafferty, where "he worked on headline-making industry deals, including the sale of GE Mortgage, Fleet Mortgage, Homeside Lending, and Principal Residential Mortgage," GMAC Mortgage said.

Scott Kinnaird has been named chief executive officer of a la mode inc., an Oklahoma City-based developer of software and online services for the real estate and mortgage industries.Celebrating its 20th anniversary this month, a la mode said the company's growth spurred the move, along with the naming of Sean Shiplet to the newly created post of chief operating officer and the opening or expansion of several offices. Mr. Kinnaird was most recently a la mode's chief strategy officer. Company founder and former CEO David Biggers will retain the role of chairman and will focus on new product, market, and strategic project development, a la mode said. Mr. Shiplet was previously the company's executive vice president of sales and customer support. In addition, a la mode announced that a regional sales and training center was recently opened in Orlando, Fla., and that its Salt Lake City development office and its legal affairs office in Washington, D.C., have been expanded. The company can be found online at http://www.alamode.com.

Fannie Mae has announced the appointment of three executives to the posts they have held on an interim basis since December.The three executives are as follows: Thomas Lund, executive vice president of Fannie Mae's single-family mortgage business; Kenneth Bacon, executive vice president of housing and community development; and Richard Lawch, senior vice president of Fannie Mae's multifamily mortgage business. Daniel H. Mudd, president and chief executive officer of the government-sponsored enterprise, said Fannie is also proceeding with the selection process for a permanent chief financial officer, credit risk officer, and chief ethics officer and hopes to make those announcements "as quickly as possible." Fannie Mae can be found on the Web at http://www.fanniemae.com.

Randy Lightbody has been appointed managing director of the wholesale division of RBC Mortgage Co., Houston.Mr. Lightbody will manage the company's wholesale sales and operations throughout the United States. He served most recently as national production manager and executive director of lending at Morgan Stanley, where he was on the team that launched the organization's residential conduit business in 2003, RBC said. Mr. Lightbody previously served as senior vice president and national sales manager of Bank One's wholesale and correspondent businesses. RBC said its wholesale division generated more than $6 billion in production volume in 2004 through more than 25,000 loans, accounting for 38% of the company's annual volume. RBC Mortgage, an indirect, wholly owned subsidiary of Royal Bank of Canada, can be found online at http://www.rbcmortgage.com.

Saxon Capital Inc., Glen Allen, Va., has announced that Bradley D. Adams and Mark D. Rogers are no longer employed by Saxon, a residential mortgage lender that operates as a real estate investment trust.Mr. Adams, formerly the REIT's executive vice president for capital markets, "has separated from service" with Saxon, while Mr. Rogers, formerly senior vice president and corporate strategies director, has resigned, according to the REIT. Saxon did not disclose the reasons for the departure of the executives. The company can be found on the Web at http://www.saxoncapitalinc.com.

Citigroup president and chief operating officer Robert Willumstad, an 18-year veteran of the company -- and a one-time candidate for the top job at Fannie Mae -- is leaving the company.Mr. Willumstad, 59, is also leaving the Citigroup board, and he announced that he will "pursue opportunities" to lead a public company. From 2000 to 2003 he headed Citigroup's global consumer operations, which include consumer finance. Once considered a candidate to head Citigroup, Mr. Willumstad was passed over for the top job in 2003 by Sandy Weill, who chose Charles Prince to be chief executive officer. Mr. Willumstad was believed to be a finalist for the Fannie Mae CEO position, which went to interim CEO Daniel Mudd this spring.

Mark C. Walker has been promoted from vice president and chief financial officer of Capital Title Group Inc., Scottsdale, Ariz., to executive vice president and chief operating officer of the title insurance company.Mr. Walker joined Capital Title in 1998 as its CFO, and he will retain that post for the near term, the company said. In addition to title insurance, Capital Title provides appraisal and other transaction services to the real estate and mortgage industries. The company can be found online at http://www.capitaltitlegroup.com.