BoA Names New Mortgage Chief

Bank of America, Charlotte, N.C., one of the largest players in residential loans, has a new mortgage chief -- Floyd Robinson.On Thursday the nation's sixth-largest funder named Mr. Robinson president of its consumer real estate division, which oversees mortgage banking. Mr. Robinson replaces Kevin Shannon, who was named the bank's chief credit management and portfolio analysis executive. Mr. Shannon played a key role in BoA's expansion of its presence in retail and wholesale lending by beefing up its hiring of account executives. (About two years ago, BoA exited the correspondent channel entirely.) Mr. Robinson was promoted from his position as president of dealer financial services, which oversees auto, recreational vehicle, and marine lending. Dealer services has $26 billion in assets. BoA's mortgage unit has $253 billion in housing receivables on its books, ranking fifth nationwide.