People

Garry Cipponeri, the head of capital markets for JPMorgan Chase & Co.'s U.S. mortgage unit, is leaving the bank to start a new company, according to two people with knowledge of the move.

Two California mortgage companies are joining forces starting next month.

Stearns Lending, a nonbank mortgage lender in Santa Ana, Calif., has hired a former Bank of America executive and banking veteran to lead its retail lending growth efforts.

Caliber Home Loans in Irving, Texas, has agreed to buy Cobalt Mortgage in Kirkland, Wash.

In his first major policy speech as the new housing secretary, Julian Castro voiced support for a Senate bill to reform housing finance and said policymakers should "remove the stigma associated with promoting homeownership."

Ron Hermance, chairman and chief executive of Hudson City Bancorp in Paramus, N.J., has died.

Fifth Third Bancorp in Cincinnati, Ohio, has named Michelle Van Dyke as president of its mortgage division.

Birchwood Credit Services said that John Shea has joined the company as senior vice president of sales and marketing.

The Mortgage Bankers Association announced two promotions Monday as part of an organizational realignment plan.

Mortgage industry veteran to be trade group's spokesman and representative at hearings.