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Healthcare Trust of America Inc., a real estate investment trust headquartered in Scottsdale, Ariz., has appointed Kellie S. Pruitt to serve as its chief financial officer. She was the company's chief accounting officer and principal financial officer since Jan. 28, 2009. Prior to that, Pruitt served as HTA's controller. Before joining HTA, she worked at Fender Musical Instruments Corp. and at Deloitte & Touche LLP. "Kellie has played a vital and hands-on role in growing our organization and in establishing our self management team," stated Scott D. Peters, president and chief executive of HTA.
May 27 -
Willard B. Soper, a former mortgage industry executive who held top positions with MidCoast Credit Corp., Melville, N.Y., and J.I. Kislak Mortgage, Miami Lakes, Fla., in the mid-1990s, is the new president of Savings Bank of Maine, Gardiner, Maine. Soper is part of an investor group, SBM Financial Inc., that has agreed to recapitalize the thrift; it had been operating under a cease and desist order from the Office of Thrift Supervision because of undercapitalization. The new chairman and chief executive is John W. Everets, the former CEO of GE/HPSC. Among the members of the new board of directors are David J. Ott, former chief banking officer of Banknorth and Richard D. Field, a co-founder of Lending Tree.
May 27 -
Freddie Mac has promoted Mike McRoberts to oversee loan production and sales for its multifamily unit. Previously, the vice president was responsible for managing underwriting and credit approvals for Freddie's multifamily debt investments. "In his 18 years at Freddie Mac, Mike has proven himself to be a capable leader, who can form teams that deliver strong results," said Mike May, Freddie senior vice president of multifamily. "He knows the business well and has great credibility with customers and industry groups." McRoberts replaces vice president Mitchell Kiffe, who left the GSE to work for CB Richard Ellis as a senior managing director for multifamily loan production. Freddie guaranteed $16.6 billion of multifamily loans in 2009, giving it a 37% market share.
May 25 -
Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group, hired Jeffrey Sommers to help grow the firm's business with depositories and mortgage bankers. Sommers will hold the title of senior account executive and focus on lenders in the central Pennsylvania and southern New Jersey regions. Radian said Sommers is a 30-year veteran of mortgage banking.
May 24 -
Scott Norman has been elected president of The Texas Mortgage Bankers Association in Austin, Texas. TMBA will focus on legislative and regulatory goals in the residential mortgage space, including establishing a statewide standard to promote financial literacy. The association consists of member firms originating over $35 billion in closed loans annually. A long-time Austin mortgage banker, Norman has been actively involved in state and federal government for over 20 years as a Capitol staffer and lobbyist. He founded the Texas Association of Reverse Mortgage Lenders Association in 1999, and served on the National Reverse Mortgage Lenders Association Board of Directors from 2005 until 2009. Currently, Norman manages the retail reverse mortgage operations in Texas for MetLife Bank.
May 20 -
PHH Corp. on Monday named industry veteran Luke Hayden president of its mortgage division, effective immediately. In a statement PHH said Hayden replaces Mark Danahy, who left the nonbank lender/servicer to "pursue other opportunities." At press time the company had not returned telephone calls concerning Danahy's departure. According to figures compiled by National Mortgage News and the Quarterly Data Report, the Mount Laurel-based PHH Mortgage is the nation's ninth largest servicer with $151 billion in receivables. It ranks eighth among funders. PHH Mortgage also is one of the largest private label lenders in the nation. During his 30-year career in mortgage banking, Hayden has worked at Chase Home Mortgage, GMAC Mortgage, and Renaissance Investment Trust.
May 17 -
Callan Associates, San Francisco, said that Sally Haskins joined the firm as a senior vice president in the real estate consulting group. In her new role, Haskins will assist in growing the firm's real estate consulting business. "This is an important step forward in the evolution of our real estate consulting business," said Jamie Shen, senior vice president and alternative investments consulting practice leader at Callan Associates. Haskins joins Callan Associates from ING Clarion where she was a director in the client service and marketing group.
May 13 -
GMAC Inc. may be close to naming a chief financial officer and has considered appointing Barbara Yastine, the former CFO for investment banking at Credit Suisse Group AG and Citigroup Inc., according to a report by Bloomberg. The news service cited "three people with knowledge of the search" but a GMAC spokesman called the story "speculative," adding that it is not making "any management announcements at this time. Jim Mackey continues to serve as interim CFO, and the company continues to move forward with its strategic priorities." Yastine, 50, is considered a prospect because she worked at Citigroup with Michael Carpenter, GMAC's new chief executive. GMAC and its mortgage affiliate both posted a profit in the first quarter. The company is considering its options on Residential Capital Corp., including a possible sale of stock to the public.
May 7 -
Industry veteran Rudy Orman has resigned as vice president of Marathon Asset Management, a New York-based private equity fund that invests in distressed residential whole loans and mortgage-backed securities. At press time Orman and officials at Marathon declined to comment on the situation. His departure became official on Friday. Two weeks ago National Mortgage News reported that an affiliate of Marathon was selling about $90 million in distressed whole loans. During his career in mortgages Orman has worked as a vice president at Goldman Sachs & Co. and at lending firms as well. In a statement Orman would only say that he will become a director and senior vice president of business development at Residential Credit Solutions.
May 7 -
BlackBox Logic, a mortgage analytics firm that provides loan-level collateral data for non-agency residential mortgage-backed securities, has hired former trader Cory Lambert as a senior analyst. Lambert joins BlackBox from Braddock Financial where he worked on the non-agency RMBS desk. "Cory's trading desk experience will be invaluable as we deliver customized loan-level data solutions for a wide variety of mortgage market participants," said BlackBox CEO Larry Barnett in a statement. In his new role, Lambert will build collateral analytics using BBx Data, a data service offered by BlackBox. The analytics firm was founded in 2007. CEO Barnett is a former managing director at Appix, where he was responsible for fixed income trading. He also spent 12 years at Fannie Mae, where he was vice president for secondary mortgage trading operations.
May 6