Wachovia Touts New Mortgage Brand

Wachovia Securities, Charlotte, N.C., has created a new brand called Vertice for the combined entities of American Mortgage Network and Wachovia Mortgage Third Party Lending.Vertice is a part of Wachovia's Corporate and Investment Bank and reports to Randy Robertson, head of Residential Mortgage and Consumer Business. Combined production from both entities totaled $18 billion in 2006, Wachovia reported. "The new brand reflects the combination of our vertical integration strategy and our mortgage expertise," said Mr. Robertson. The continued integration of the wholesale businesses will capitalize on the strong competitive advantages the company has in the marketplace, he added. "While our branding and structure may be new, our values and our mission remain the same: provide the highest-quality service, a broad product range, and a local business presence that links us closely to our client base, ensuring efficient underwriting and closing for our broker customers," Mr. Robertson said. Charlotte Catalfo and John Robbins remain co-heads of the unit. In October 2006, Robbins assumed more of a special adviser role when he began his tenure as chairman of the Mortgage Bankers Association. Offices in Charlotte, N.C., and San Diego will continue to be the main hubs for Vertice, Wachovia said.