Steven Chiou has been named executive vice president and head of secondary marketing at Market Street Mortgage, a retail residential mortgage banking firm based in Clearwater, Fla.Before joining Market Street, Mr. Chiou served as executive vice president for capital markets at CTX Mortgage Co., Dallas, and worked for Fannie Mae in Dallas in several key management positions, Market Street said. “Given the likelihood that interest rates will go up in 2003, hedging is going to be the number one challenge [for the secondary market], as the volatility of rates will be much greater,” Mr. Chiou said. Market Street Mortgage is a subsidiary of NetBank, which can be found online at http://www.netbank.com.
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