People

Sheila Bair will officially step down as chairman of the Federal Deposit Insurance Corp. on July 8, the agency said Monday afternoon.

Mark Oman, a senior executive at Wells Fargo & Co., who helped build the bank’s mortgage business into one of the most competitive in the industry, announced that he will retire by yearend.

Alan Todd plans to join Bank of America Merrill Lynch in August as head of U.S. commercial mortgage-backed securities research.

Credit Suisse this week hired Roger Lehman as managing director and head of its commercial mortgage-backed securities department, responsible for research and analysis. His appointment is effective August 1.

Marty Gruenberg, the No. 2 at the Federal Deposit Insurance Corp., is expected to be nominated shortly as the agency's chairman, according to several sources.

Real Estate Mortgage Network Inc., a national mortgage lender based in River Edge, N.J., opened a new office in San Diego.

Residential Finance Corp., Columbus, Ohio, has hired Daniel Jacobs, former 1st Metropolitan CEO, to head up its new retail branching operation, ProLending Network.

Frank Keating, the head of the American Bankers Association, late Tuesday reneged on his endorsement of Elizabeth Warren as director for the Consumer Financial Protection Bureau within hours of saying the trade group would "be fully supportive" of her nomination.

Freddie Mac’s capital market chief, Peter J. Federico, a 23-year veteran of the GSE, announced that he is leaving the company in mid-May.

The White House keeps insisting it has not made a final choice for director of the Consumer Financial Protection Bureau, but there is a growing expectation that Elizabeth Warren will soon get the nod.