Fairbanks Names New Veeps

Fairbanks Capital Corp., a subprime mortgage servicer based in Salt Lake City, has announced the appointment of three new senior vice presidents and five new vice presidents.The new senior vice presidents and their areas of responsibility are: Patrick Coon, default operations; John Horak, operations; and John Pataky, Jacksonville (Fla.) site operations. The new vice presidents are: Patrick Couture, servicing and loan administration; Alicia Cox, customer service; John Lee, compensation and benefits; Debbie Lewis, corporate communications; and Juan Lorenzo, insurance service. Fairbanks said the executives have worked at such companies as Bank of America, Chase Manhattan Mortgage, First Tennessee National Corp., GMAC/RFC, GreenPoint Insurance Agency, Pacific USA Holdings Corp., and U.S. Bank. The hirings are "part of our focus on improving our loan servicing for borrowers, while continuing to help financial institutions manage the risk of nonprime residential mortgage loans," said James H. Ozanne, chief executive officer of Fairbanks. Fairbanks, which is under investigation by the Federal Trade Commission and the Department of Housing and Urban Development for its servicing practices, fired its president, Bill Garland, in May.