Bank of America has named Mike Hall to replace Paul Szymanski as the head of its warehouse lending business. Szymanski left B of A to reunite with former Countrywide Credit Industries president Stanford Kurland and start a warehouse lending business at PennyMac.
Hall's new role at B of A is warehouse lending, counterparty and loss mitigation executive, and he will report to John Dixon, Institutional Mortgage Services executive, company spokesman Terry Francisco said. Hall has been with B of A since 2003, and was most recently correspondent lending national accounts executive.
In his statement, Francisco said "We are continuing to serve the needs of the warehouse lending market, and Mike will continue to lead our strong performance record with clients, which has earned Bank of America market leadership in warehouse lending."
According to the Quarterly Data Report, B of A is the No. 1 warehouse lender by dollar volume of commitments, at $13 billion, more than double runner-up Wells Fargo at $5 billion.
