Kenneth Ferrari has been named senior vice president of the Eastern division of First Magnus Financial Corp., a privately held mortgage banking company based in Tucson, Ariz., and Stephen Olimpio has been promoted to senior vice president of the Northern division.Mr. Ferrari will be responsible for wholesale prime and alternative-A lending in New England and mid-Atlantic markets, and Mr. Olimpio will focus on the Northeast and upper Midwest markets, First Magnus said. Mr. Ferrari has more than 16 years of experience in mortgage lending, most recently as senior business line executive for Mortgage Lenders Network USA's Prime Wholesale division. Previously, he spent 10 years with Fleet in various production management positions. Mr. Olimpio has served as First Magnus' regional vice president of the Northeast division for five years. He has 12 years of wholesale lending experience and has worked with some of the top companies in the industry, including North American Mortgage, Accubanc, Crossland Mortgage, and Wells Fargo, according to First Magnus. The company can be found on the Web at http://www.firstmagnus.com.

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