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A major shake up in the senior ranks at Arch Bay Capital has taken place with several departures from the company, according to three nonperforming loan investors that have conducted business with the firm.

Freddie Mac's new chief executive, Donald Layton, urged critics to keep an open mind about the troubled government-sponsored enterprise and pledged to focus on "the nuts and bolts" to improve efficiency.

Freddie Mac named Donald Layton, who previously held executive positions at E*Trade and Chase, its CEO.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Carrington Holding Co. hired Bill King as its chief investment officer and head of asset and risk management.

Wingspan Portfolio Advisors named Ed Delgado chief operating officer.

Crockett National Bank, San Angelo, Texas, has purchased a controlling interest in Legacy Mutual Mortgage, a San Antonio-based mortgage banker.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Stearns Lending Inc. this week hired former Bank of America and MetLife executive Brian Hale as its new chief executive officer.

Stearns Lending Inc., one of the nation’s largest wholesale funders, this week hired former Bank of America and MetLife executive Brian Hale as its new chief executive officer.