E*Trade Bank, New York, has hired industry veteran Terry Rowland to head its correspondent lending division.According to figures compiled by National Mortgage News, E*Trade is the nation's 15th-largest correspondent funder and ranks 31st overall. A company spokeswoman said E*Trade does not yet have a presence in wholesale lending, but that could change under Mr. Rowland, who joins the online financial service provider from RBC Mortgage in Raleigh, N.C. Prior to that he worked for Pedestal Inc., Washington, a business-to-business mortgage platform that eventually folded. He is widely known in the mortgage industry. During his career he has also worked for First Nationwide Mortgage, which last year was bought by Citigroup. His official title at E*Trade will be national correspondent lending manager.
