Richard W. Payne III has been named president of the wholesale division of New York Mortgage Trust, and Joseph J. Gorton has been named the division's chief operating officer.The real estate investment trust said the hiring of the two mortgage banking veterans will enable it to "significantly accelerate" the growth of its wholesale origination business. Mr. Payne was president and chief executive officer of SIB Mortgage Corp. from 1997 to 2004 until that company was acquired by Lehman Brothers. Mr. Gorton was formerly executive vice president and COO of SIB Mortgage, and he was previously an executive with GMAC Mortgage, Eastern Mortgage Services, and Anchor Mortgage Services, the REIT said.
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