Former TMS Wholesale Manager Joins Upstart MI Firm

National Mortgage Insurance, a new MI firm based in Emeryville, Calif., has hired Domenic Melillo as managing director for the company’s Southeast region.

This past summer Melillo parted ways with Total Mortgage Services, Milford, Conn., where he served as national wholesale manager.

“I’m happy to back in the MI business after a seven year absence,” Melillo said in a brief interview with National Mortgage News. During his career Melillo also worked for IndyMac Bank.

NMI has yet to write any policies, but has coverage applications pending with Fannie Mae, Freddie Mac and several states. It hopes to issue its first policies early next year.

The company’s top officers include Bradley Shuster, who ran The PMI Group’s international operations until the company sold its Australian unit to QBE Group in 2008, and another former PMI executive, Glen Corso. PMI Mortgage Insurance is currently in run-off mode.