People

The nonbank mortgage sector had its largest one-month employment gain in a year, as independent mortgage bankers and brokers enjoyed stronger-than-expected originations during the second quarter.

Mortgage industry hiring and new job appointments for the week ending Aug. 4.

New York Community Bank, the parent of Ohio Savings, will slash more than 200 jobs in Greater Cleveland next month when it gets out of the mortgage business.

Flagstar Bank has hired Kristy Fercho, former senior vice president and customer delivery executive for Fannie Mae, to lead its mortgage division.

Mortgage industry hiring and new job appointments for the week ending July 28.

Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.

A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead — but changes since the financial crisis may have made the proposal largely obsolete anyway.

Mortgage industry hiring and new job appointments for the week ending July 21.

Former Ginnie Mae President Ted Tozer is joining the board of directors at PennyMac Financial Services starting Aug. 1.

Colony American Finance has been rebranded as Corvest American Lender in the wake of equity and asset acquisitions by funds affiliated with Fortress Investment Group.