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C.D. Davies, president of Wachovia Mortgage, Charlotte, N.C., has resigned from the company, effective Oct. 31, MortgageWire has learned.Mr. Davies had been with the bank-owned lender for 18 years. As part of a reorganization, the bank named Jim Judd head of its retail mortgage and credit group. Mr. Judd joined Wachovia from World Savings/Golden West Financial of Oakland, a thrift the bank recently purchased. Mr. Judd was president and chief operating officer of World Savings, a subsidiary of Golden West. Three senior officials at Wachovia Mortgage -- David Pope, Tim Wilson, and Rich Fikani -- will report directly to Mr. Judd. Messrs. Fikani and Wilson, like Mr. Judd, came from Golden West. Wachovia can be found online at http://www.wachovia.com.
November 3 -
Michael I. Wirth, chief financial officer of New York Mortgage Trust Inc., will resign Nov. 3 and be replaced on an interim basis by Steven R. Mumma, the company's chief investment officer and chief operating officer.Mr. Wirth, 48, is resigning "to pursue another opportunity," the company said. Mr. Mumma, 47, has been the company's COO since November 2003 and its chief investment officer since July 2005. He was previously vice president of Natexis ABM Corp. and vice president of mortgage-backed securities trading at Credit Agricole. NYMT, a real estate investment trust, can be found online at http://www.nymtrust.com.
November 2 -
Taylor, Bean & Whitaker Mortgage Corp., a privately held wholesale mortgage lender based in Ocala, Fla., has announced the formation of a nationwide correspondent lending group.Doug Miller, who formerly served as manager of correspondent programs at Washington Mutual, Citicorp, and HSBC, has been named executive vice president of the new division. TB&W can be found on the Web at http://www.taylorbean.com.
November 2 -
Taj S. Bindra has been named executive vice president and chief financial officer of New Century Financial Corp., a real estate investment trust and mortgage finance company based in Irvine, Calif.Mr. Bindra will assume the EVP post on Nov. 6 and the CFO position on Nov. 15, New Century said. He will replace Patti M. Dodge, who is scheduled to take over as executive vice president of investor relations on Nov. 15. Mr. Bindra was most recently executive vice president of mortgage banking, capital markets, and servicing operations at Washington Mutual Inc. New Century can be found online at http://www.ncen.com.
November 1 -
Sean Burton has been named chief operating officer of CityView, a Santa Monica, Calif.-based discretionary housing investor headed by former HUD Secretary Henry Cisneros.Mr. Burton was most recently managing director at CityView, and he will continue to serve on the company's governance and investment committees, CityView said. Mr. Cisneros, who was secretary of the Department of Housing and Urban Development during former President Bill Clinton's first term, is chairman of CityView. The company said it helps create housing for working families by offering a flexible source of combined debt and equity and providing homebuilder partners a one-stop resource for land acquisition, entitlement support, governmental assistance, marketing, community outreach, and project insurance. CityView can be found online at http://www.city-view.net.
October 30 -
Bob Lewis has been named president of the Fifth Third Mortgage Co., Cincinnati.Mr. Lewis joined Fifth Third in 2005 as senior vice president and director of the residential mortgage wholesale channel. Before that, Mr. Lewis was wholesale national sales manager in the institutional lending division of Wells Fargo Home Mortgage. He previously managed Wells Fargo's correspondent banking business. Fifth Third Mortgage is a subsidiary of Fifth Third Bank, which can be found on the Web at https://www.53.com.
October 30 -
Tim G. Henley and David Shaffer have been named regional lender representatives at Stewart Lender Services, Houston.Mr. Henley will be responsible for lender assistance and sales in the Midwest, and Mr. Shaffer will cover the Mountain states and the Pacific Northwest, the company said. Mr. Henley most recently served as area sales manager for Wells Fargo Home Mortgage. Mr. Shaffer was most recently in charge of sales of collateral valuation products and analytics for First American Real Estate Solutions. Stewart Lender Services can be found online at http://www.stewartlenderservices.com.
October 27 -
Robert Steel, the new Treasury under secretary in charge of policies and legislation on government-sponsored enterprises, has pledged to work with all key participants to get results."The reality is that success on these difficult issues will be characterized by collaboration and compromise," Mr. Steel said during a formal swearing-in ceremony. The new under secretary for domestic finance's first challenge will be to forge a compromise on long-stalled GSE legislation that strengthens the regulation of Fannie Mae and Freddie Mac. Treasury Secretary Henry Paulson called Mr. Steel the "ultimate team player" who is "always willing to subjugate his own ego to get something done." The two men were colleagues at Goldman Sachs. Mr. Steel was vice chair when he left the Wall Street firm in 2004, and Mr. Paulson was chairman.
October 27 -
James Pereda has been named president of Bryco Realty, the real estate subsidiary of Bryco Funding Inc., a San Francisco-based mortgage lender.Mr. Pereda has been with Bryco for two years, and was its No. 1 loan officer last year, the company said. Bryco Funding "caters to all borrowers, across the entire spectrum of credit grades," the company said. It can be found online at http://www.brycofunding.com.
October 26 -
Theodore L. Chandler Jr. has been promoted from president and chief executive officer to chairman and CEO of LandAmerica Financial Group Inc., Richmond, Va., effective Jan. 1.The current chairman, Charles H. Foster Jr., will continue to serve on the board and will assume the honorary title of chairman emeritus. Mr. Foster said the roles of chairman and CEO were separated two years ago "because it made sense for our leadership transition. Today, we believe combining those roles recognizes the confidence the board has in Ted's leadership and his governance...." LandAmerica also announced the appointment of Eugene P. Trani, president of Virginia Commonwealth University, to the newly created position of lead director, effective Jan. 1. LandAmerica can be found on the Web at http://www.landam.com.
October 26