Career moves

Geoffrey G. Jervis has been named chief financial officer, treasurer, and secretary of Capital Trust Inc., a New York City-based investment management company that focuses on the subordinate debt markets of U.S. commercial real estate.Mr. Jervis, 34, was most recently director of capital markets and has held various posts with Capital Trust since 1999. In his new position, he will retain his capital markets responsibilities as well as assume responsibility for the company's finance department, Capital Trust said.

Thomas M. Herzog has been named to succeed Paul J. McAuliffe, who will step down as chief financial officer of Apartment Investment and Management Co. in the first quarter of next year.Mr. McAuliffe joined AIMCO, a Denver-based real estate investment trust, in 1999 as an executive vice president and assumed the role of chief financial officer in October of that year, the company said. He has said he plans to return with his family to his native New Jersey, and he will serve AIMCO as an EVP in various capital market activities. Mr. Herzog is currently AIMCO's chief accounting officer, and the REIT said it will undertake an executive search for a replacement. Mr. Herzog was previously chief accounting officer and global controller at GE Real Estate.

Barry Botruff has been named to the newly created position of chief operating officer of TransUnion Settlement Solutions, a Chicago-based provider of real estate services.Mr. Botruff was most recently executive vice president of the U.S. Information Services group of TransUnion, the parent company of TransUnion Settlement Solutions. The subsidiary can be found on the Web at http://www.transunionssi.com.

Citing its plan for "an orderly board transition," Freddie Mac has announced that longtime director John B. McCoy will not stand for re-election to its board of directors at the July 15 stockholders' meeting.The plan is being carried out with the approval of the Office of Federal Housing Enterprise Oversight, the company's regulator, which has adopted corporate governance regulations relating to director term limits, Freddie Mac said. "John has been a stalwart of the Freddie Mac board since 1990," said Richard F. Syron, chairman and chief executive officer of the government-sponsored enterprise. "He has provided wise counsel through thick and thin, and has been a key figure in the organization's turnaround."

William R. Flatt has been named executive vice president, chief financial officer, and secretary of Parkway Properties Inc., a real estate investment trust based in Jackson, Miss.Mr. Flatt was most recently vice president and asset manager for the office REIT's Chicago and Phoenix markets. Before that, he was vice president of investor relations. Parkway Properties can be found on the Web at http://www.pky.com.

Mark Hughes has been named president of the Bohan Group, a San Francisco-based provider of risk analysis for the mortgage industry.Mr. Hughes, who will retain his title of chief operating officer, has been an executive vice president of Bohan for four years. Before joining the company, Mr. Hughes spent 12 years in the mortgage department of Solomon Smith Barney (now Citigroup). Bohan provides due diligence, and it recently expanded its services to include regulatory compliance reviews and software as well as a Southern California mortgage fulfillment center. Paul Bohan, the company's chairman and chief executive officer, said Mr. Hughes "will be key in the expansion of our fulfillment center in Southern California, as well as forging new partnerships with other service providers." The company can be found online at http://www.bohangroup.com.

Tim Anderson, executive vice president of business development of Minneapolis-based Dexma Inc., has been elected to the Governance Committee of the Mortgage Industry Standards Maintenance Organization.Mr. Anderson has over 25 years of mortgage banking technology and management experience and is credited with creating the eMortgage Alliance that supports MISMO standards for delivering legal paperless processes. MISMO was established by the Mortgage Bankers Association to coordinate the development and maintenance of Internet-based Extensible Markup Language real estate finance specifications. The Governance Committee is made up of 16 representatives from MISMO subscriber organizations, including two origination technology companies. Mr. Anderson will serve a two-year term.

Max Harris has been named executive vice president of NextAce Corp., a privately held technology company based in Tustin, Calif., that serves title insurance companies and mortgage lenders.Mr. Harris was recently president of REIData, a subsidiary of Stewart Information Services Corp. Before that, he was president of NationsData, a subsidiary of Tyler Technologies in Dallas, and vice president of TRW-REDI, now known as Data Trace, according to NextAce. The company can be found on the Web at http://www.nextace.com.

David H. Stevens, the man in charge of sales for Freddie Mac, has left the mortgage giant for one of its largest customers, Wells Fargo Home Mortgage, San Francisco, MortgageWire has learned.A spokesman for Freddie Mac confirmed that Mr. Stevens had left the government-sponsored enterprise. He said Mr. Stevens will head the correspondent division of Wells Fargo Home Mortgage. In May 2003 Freddie Mac named Mr. Stevens to lead its national lending division. At the time he was senior vice president and general manager of the company's community lending division.

The chief executive, the chief operating officer, and the head of human resources have left the Lehman Brothers-owned Finance America, a top-20-ranked subprime lender, MortgageWire has learned.Three sources close to the company confirmed the departures. Two wholesale account executives were also let go, a source confirmed. However, Lehman Brothers declined to comment on the record or to identify the fired executives. The Lehman unit, which table-funds most of its production through loan brokers, employs about 1,000 in 48 states. Besides FA, Lehman controls two other mortgage companies: Aurora Loan Services of Colorado, and BNC Mortgage, Irvine, Calif.

Federal Reserve Board governor Edward Gramlich has announced he is resigning effective Aug. 31 to pursue several teaching and research interests.Mr. Gramlich, 65, has served on the board since November 1997 and has played key roles in pushing through major changes to the Fed's Home Ownership and Equity Protection Act and Home Mortgage Disclosure Act regulations. His efforts increased the number of high-cost subprime loans subject to HOEPA restrictions and required lenders to provide pricing data on high-cost loans as part of their annual HMDA reports. Prior to joining the Fed, Mr. Gramlich was dean of Michigan University's School of Public Policy.

Brandon Barnett has been named executive vice president for strategic initiatives at LandAmerica OneStop, a Richmond, Va.-based online provider of real estate transaction services for mortgage lenders.Mr. Barnett was most recently vice president for strategic initiatives and director of affiliated services at LandAmerica OneStop, a subsidiary of LandAmerica Financial Group Inc. He is based in Pittsburgh. LandAmerica can be found on the Web at http://www.landam.com.

HUD associate general counsel John P. Kennedy is moving to the Federal Housing Finance Board next week to become the new general counsel at the agency that oversees the 12 Federal Home Loan Banks.He replaces general counsel Mark Tenhundfeld, who is leaving the Finance Board to join a private firm. A career attorney at the Department of Housing and Urban Development, Mr. Kennedy was charged with responsibilities in areas such as Real Estate Settlement Procedures Act reform and the affordable housing goals of Fannie Mae and Freddie Mac. Mr. Tenhundfeld has taken a position at Promontory Interfinancial Network LLC, based in Arlington, Va. Headed by former Comptroller of the Currency Eugene Ludwig, Promontory Interfinancial provides certificate of deposit services that enable banks to offer their customers deposit insurance protection of up to $15 million.

Health Care Property Investors Inc. has promoted Stephen R. Maulbetsch to executive vice president-acquisitions and dispositions. Mr. Maulbetsch was previously senior vice president-acquisitions and dispositions for the company, according to HCPI. He has been with the company for 20 years and has been a key player in its growth from its initial public offering in 1985, HCPI said. Health Care Property Investors is a real estate investment trust based in Long Beach, Calif. that invests directly or through joint ventures in healthcare facilities. The company can be found on the Web at http://www.hcpi.com.

Tom Renshaw has been named president and chief operating officer of Team One Mortgage Services Inc., a subsidiary of Equus Resources Inc., a financial services company based in the Atlanta suburb of Roswell, Ga.Before joining Team One, Mr. Renshaw, 47, was a principal and co-founder of several companies, including an Atlanta-based mortgage company, Equus said. He has held real estate, mortgage, securities, and insurance licenses, and has experience in residential and commercial real estate sales, development, and finance as well as residential and commercial mortgage management, the company said. Team One can be found online at http://www.teamonemortgage.com.

Deutsche Bank's mortgage-backed securities unit has added two new hires.Hyung Myung Peak, who previously worked for RBS Greenwich Capital, has joined Deutsche Bank as a managing director and head of private-label collateralized mortgage obligation trading. Adam Yarnold, who formerly worked for UBS, has joined Deutsche Bank as a director and head of adjustable-rate mortgage trading. Deutsche Bank can be found on the Web at http://www.db.com.

SG Corporate and Investment Banking, a subsidiary of French Bank Societe Generale, has created a U.S. mortgage-backed securities group and hired U.S. industry veterans to launch the business."The new initiative allows SG CIB to develop U.S. RMBS capital market capabilities to complement its existing RMBS businesses in Europe and Australia," the company said. "The move also enhances SG CIB's global structuring and distribution capacity to help issuers tap the U.S. or European markets." The following MBS professionals have joined the new unit as directors: David Chang, who previously traded seasoned and distressed mortgage credits at Deutsche Bank; Abner Figueroa, who worked for Eurohypo AG; Carole Mortensen, who worked for UBS; Rob Pak, who was part of SG CIB's collateralized debt obligation group; and Graham Henley, who was responsible for the residential mortgage warehouse program at Garban-Intercapital. Yuan Zhou, who previously worked for C-BASS, has also joined the SG CIB unit and has been named a vice president.

ComUnity Lending, Morgan Hill, Calif., has announced the formation of a new Executive Leadership Team with the promotions of Jayson Stebbins and Janene Towner to executive vice president.The mortgage lender said the pair will join company president and chief executive officer Darryl Fry on the three-person executive team, which will oversee the company's strategic initiatives and planning, including its "aggressive" expansion efforts. Mr. Stebbins has been senior vice president of production for several years, and Ms. Towner was most recently senior vice president and chief operating officer. The company said the move was prompted by its "stunning growth over the past few years and opportunities created by several new ventures." ComUnity Lending said it now has more than 1,300 full-time employees in 40 licensed states. The company can be found online at http://www.communitylending.com.

Former Fannie Mae chairman and chief executive Franklin Raines, who was forced into retirement in December, is serving as adviser to Revolution LLC, a new Washington-based venture capital firm founded by ex-America Online chairman Steve Case.According to a report in the Washington Post, Mr. Raines is serving as an unpaid "informal" adviser to Revolution. The former Fannie Mae CEO, who keeps an office at Revolution, did not return a telephone call by MortgageWire's deadline. Mr. Raines, a former AOL director, is a general partner in the Washington Baseball Club, which is trying to purchase the Nationals. The WBC continues to list him as Fannie's chairman and CEO even though he has not worked there in six months. Fannie Mae, meanwhile, is expected to restate earnings by $9 billion to $12 billion, and its accounting practices are under investigation by several federal agencies, including the Justice Department.

Susan Barnes has been named practice leader and head of the Standard & Poor's Structured Finance Residential Mortgage group in North America.Ms. Barnes, previously the senior analytical manager of the residential mortgage group, will manage all of S&P's U.S. residential mortgage-backed securities activities, products, and analysts, the rating agency said. Before joining S&P in 1993, she worked at Citicorp Securities Markets and was previously employed at mortgage companies in both the primary and secondary markets. S&P said Ms. Barnes' activities in recent years included the development of "market-leading RMBS criteria related to anti-predatory-lending laws." S&P Ratings Services can be found on the Web at http://www.standardandpoors.com.