Craig Lipsay, the former head of securitized products at Morgan Stanley & Co., has been named managing partner at Loan Value Group LLC. During his 19 years on Wall Street, including a stint at Merrill Lynch, Lipsay worked in both residential and commercial with a focus on structured credit products. In his new role he will work with institutional clients to implement LVG's default deterrent for borrowers with negative equity positions. Lipsay will focus on the firm's Responsible Homeowner Reward program, which allows mortgage holders to make cash payments to select homeowners affected by negative equity that the borrowers will only receive if they remain current on their loans.
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