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Don Curtis has departed as national sales manager for Franklin Credit Management, Jersey City, N.J., accepting a position with Carrington Mortgage Services, a privately held specialty servicer.

Joseph Herbst, a top executive at two large corporate credit unions that failed under the weight of risky mortgage investments, emerged last week after being hired as the new CEO for CUMAnet, a mortgage lending credit union services organization based in Basking Ridge, N.J.

Thomas F. O'Neill, a founding principal of Sandler O'Neill Partners, unveiled plans to retire from the New York banking firm — but join a financial services company controlled by MBS co-inventor Lew Ranieri.

HeartLand Financial USA Inc., Dubuque, Iowa, has hired a former Bear Stearns Residential Mortgage executive and his team from a failed Arizona thrift to lead what it hopes will be a growing mortgage operation.

William Moody has joined Williston Financial Group Inc., as an executive vice president and head of its New Millennium Title lender services division. He will also serve on WFG's executive committee.

A former managing director and head of European residential mortgage- and asset-backed securities at Morgan Stanley is filling a somewhat similar role at Jefferies.

American Bankers Association has turned to former Oklahoma governor and Washington veteran Frank Keating to be their president and chief executive starting January 1.

In a further exodus of the Obama administration's economic team, Diana Farrell, the White House National Economic Committee's deputy director and Michael Barr, the Treasury assistant secretary for financial institutions, said Tuesday they are resigning their posts.

ING Real Estate Finance has promoted Michael Shields to managing director and head of ING Real Estate Finance for the Americas. In his new role, Shields is responsible for management of the company's $6.7 billion real estate loan portfolio in the Americas, which consists of term loans, construction loans and subordinate debt, as well as for growing that portfolio.

Fannie Mae Chief Financial Officer David Johnson plans to leave the company by yearend, according to a regulatory filing Tuesday.