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Deutsche Bank Securities Inc. has added five mortgage-backed securities researchers.The Wall Street firm has named Arthur Frank as director and head of agency MBS research and Ying Shen as director and head of non-agency MBS research. Deutsche Bank also has hired Yan Dong, William Natcher and Jichun Wu as vice presidents in MBS research. Mr. Frank previously was a director in Barclays Capital's mortgage strategy group and Mr. Shen formerly was head of credit trading modeling at JPMorgan. The three new MBS research VPs hired by Deutsche Bank previously worked for UBS, National City Corp. and Freddie Mac, respectively.
June 5 -
Alan L. Stinson has been promoted to chief executive officer of Fidelity National Financial Inc., Jacksonville, Fla., and Raymond R. Quirk and Brent B. Bickett have been named co-presidents of the company.Mr. Stinson and Mr. Quirk are currently co-chief operating officers of Fidelity National, and Mr. Bickett is currently its president. The company, which provides title insurance, specialty insurance, and claims management services, can be found on the Web at http://www.fnf.com.
June 1 -
Preston Martin, who served as chairman of the Federal Home Loan Bank Board and was involved in the formation of Freddie Mac, died of heart disease May 30 in San Francisco at the age of 83, according to the San Francisco Chronicle.Mr. Martin was vice chairman of the Federal Reserve Board from 1982 to 1986, and he founded PMI Mortgage Insurance Co. in the early 1970s after heading the FHLBank Board, the predecessor agency of the Federal Housing Finance Board. He was also instrumental in the creation of NeighborWorks America. "Preston Martin, at the helm of the Federal Home Loan Bank system in 1970, was ahead of his time in supporting community-based public-private partnerships as a viable approach to the revitalization of urban residential areas," said Ken Wade, chief executive officer of NeighborWorks. "In an era when conflict was more common than cooperation, Preston Martin helped propel NeighborWorks from very humble beginnings into a national housing and community development network."
June 1 -
Kenneth Ferrari has been named senior vice president of the Eastern division of First Magnus Financial Corp., a privately held mortgage banking company based in Tucson, Ariz., and Stephen Olimpio has been promoted to senior vice president of the Northern division.Mr. Ferrari will be responsible for wholesale prime and alternative-A lending in New England and mid-Atlantic markets, and Mr. Olimpio will focus on the Northeast and upper Midwest markets, First Magnus said. Mr. Ferrari has more than 16 years of experience in mortgage lending, most recently as senior business line executive for Mortgage Lenders Network USA's Prime Wholesale division. Previously, he spent 10 years with Fleet in various production management positions. Mr. Olimpio has served as First Magnus' regional vice president of the Northeast division for five years. He has 12 years of wholesale lending experience and has worked with some of the top companies in the industry, including North American Mortgage, Accubanc, Crossland Mortgage, and Wells Fargo, according to First Magnus. The company can be found on the Web at http://www.firstmagnus.com.
May 31 -
Harvey W. Goldberg has been named president of Dover Mortgage Co., Charlotte, N.C.Mr. Goldberg succeeds the company's founder, W. Edward Joye, as president. Mr. Joye resigned in March. Mr. Goldberg has more than 20 years' experience in the mortgage industry, Dover said. FNB United Corp. is the holding company for Dover Mortgage.
May 24 -
Douglas J. Donatelli has been named chairman of the board and chief executive officer of First Potomac Realty Trust, a real estate investment trust based in Bethesda, Md.Mr. Donatelli will succeed Louis T. Donatelli, who will continue to serve as a trustee, the industrial and flex-property REIT said. Douglas Donatelli has been president, CEO, and trustee of the company since its founding in 1997. The REIT said its portfolio now contains 70 properties totaling 11.2 million square feet.
May 23 -
Louis J. Freeh, a former director of the Federal Bureau of Investigation, has been elected to the board of directors of Fannie Mae.Mr. Freeh, who will serve on the board's compliance and compensation committees, is president of Freeh Group International LLC, a Delaware-based practice of former federal judges and former senior FBI leaders who provide legal, governance, investigative, litigation, and risk management services. Mr. Freeh served as general counsel, corporate secretary, and ethics officer at MBNA Corp., as well as vice chairman of MBNA America Bank NA from 2001 to 2006, Fannie Mae said. Before serving as director of the FBI from 1993 to 2001, he was the U.S. district judge for the Southern District of New York from 1991 to 1993. Fannie Mae can be found online at http://www.fanniemae.com.
May 23 -
The Department of Housing and Urban Development has promoted Paul B. Manchester to head up the research division that analyzes Fannie Mae and Freddie Mac data for mission compliance.Mr. Manchester previously served as a senior economist at the financial institutions regulation division, which provides analytical support for HUD's regulatory oversight of the two government-sponsored enterprises. This includes research for setting the affordable housing goals and evaluating the GSEs' loan-level data to ensure compliance with the goals. If Congress passes GSE reform legislation, Mr. Manchester's division might be transferred to a new regulatory agency created to supervise Fannie, Freddie, and the Federal Home Loan Banks.
May 22 -
Paula Stretz has been named managing director of eMagic, a subsidiary of Mortgage Guaranty Insurance Co., Milwaukee.Ms. Stretz was most recently national accounts manager of eMagic. She will be responsible for MGIC's eMagic and Myers Internet subsidiaries. MGIC can be found on the Web at http://www.mgic.com.
May 21 -
John U. Sepulveda has been named senior vice president for operations at the National Association of Mortgage Brokers.Mr. Sepulveda, who brings more than 25 years of experience in the housing industry and the federal government, was most recently chief executive officer at the National Association of Hispanic Real Estate Professionals. He previously held senior-level positions at the Federal Housing Administration and the U.S. Office of Personnel Management. Mr. Sepulveda also worked as the director of housing and industry relations at Freddie Mac. The NAMB can be found online at http://www.namb.org.
May 18