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Christopher S. Stinebert has been named president and chief executive officer of the American Financial Services Association, effective Nov. 1.This timing will allow a two-month transitional period before Randy Lively, the AFSA's current president, retires on Dec. 31. Mr. Stinebert currently serves as president and chief executive officer of the Manufactured Housing Institute in Arlington, Va. Before joining the MHA in 1998, he was president and chief executive officer of the National Concrete Masonry Association in Herndon, Va.

NetBank Inc., Columbia, S.C., a top-40-ranked mortgage lender, says its chairman and chief executive officer, Douglas Freeman, has resigned effective Oct. 5.The resignation comes as the company finalizes a deal to sell a majority of its $15 billion servicing portfolio, using Countrywide Servicing Exchange, Pasadena, Calif., as its broker. Initially, Phoenix Capital, Denver, had represented NetBank in the sale, but then the company changed advisers. A spokesman for NetBank told MortgageWire that "We wanted a bigger firm to represent us." The depository named Stephen Herbert as its new CEO. In a statement, Mr. Herbert said, "We believe our bank and conforming mortgage businesses have upside potential." Through the first six months of the year NetBank has lost about $42 million. Blaming its woes on the flat yield curve, "competitive operating pressures within our mortgage channels, and other market factors," it anticipates that it may lose money in the third quarter just ended.

Laurence C. Siegel has retired as chief executive officer of The Mills Corp., Chevy Chase, Md., and has been named non-executive chairman of the board, while Mark S. Ordan has been promoted from chief operating officer to CEO and president.Mills, a real estate investment trust, also reported that it is still working with Kan Am USA Management XXII and Colony Capital Acquisitions LLC "to resolve the complex issues necessary to close the Meadowlands Xanadu transaction." If that transaction is concluded, Mr. Siegel may join the new joint venture and, if so, would remain on the REIT's board but resign as non-executive chairman, The Mills said. Mr. Ordan, a longtime board member, was previously a specialty retail CEO and chairman of the Federal Realty Investment Trust. The REIT can be found online at http://www.themills.com.

Corey Carlisle has been named senior director for residential loan production in the Government Affairs Department of the Mortgage Bankers Association.Mr. Carlisle's MBA portfolio will include the development of industry positions on residential loan production issues such as Federal Housing Administration reform, alternative mortgage products, and appraisal reform. Mr. Carlisle was most recently first vice president of public policy and industry affairs at Countrywide Financial Corp. He previously held senior product management roles at First Franklin Financial, where he led the rollout of several successful mortgage products and services, and at Freddie Mac, where he managed strategic development projects in its Single Family Division, the MBA said. Mr. Carlisle was also a legislative assistant to Sen. Kent Conrad, D-N.D. The MBA can be found online at http://www.mortgagebankers.org.

Richard D. Powers has been named senior vice president and general manager of ditech.com, a direct mortgage lender based in Costa Mesa, Calif.Mr. Powers joins ditech.com from Metrociti Mortgage Corp., where he served as president of the company's Western Division. He was previously president of KB Home Mortgage, where he managed the captive mortgage business. Mr. Powers was also president and chief executive officer of Charter One Mortgage Corp. for seven years. The company can be found online at http://www.ditech.com.

Terri A. Lowell has been named executive vice president of human resources at EMC Mortgage Corp., Lewisville, Texas.Ms. Lowell joins EMC from Glazer's Family of Cos. in Dallas, where she was vice president of human resources and development, EMC Mortgage said. Ms. Lowell previously served as director of human resources at Pepsico Inc. in Plano, Texas, and as director of organizational capability and diversity/inclusion for Frito Lay North America. She has also held management positions at eLoyalty Corp. in Lake Forest, Ill.; Goldman, Sachs & Co. in Chicago; and BP Amoco Corp. in Chicago. EMC Mortgage can be found online at http://www.emcmortgage.com.

Barrett Burns has been named president and chief executive officer of VantageScore Solutions LLC, Stamford, Conn., which was launched in March by the three national credit reporting companies to offer a consistent approach to scoring consumer creditworthiness.The company said Mr. Burns, 60, has more than three decades of experience in risk and credit management and has held senior leadership positions at Citibank, Ford Motor Credit, and Bank One. Before joining VantageScore, Mr. Burns was the executive vice president in charge of the National Private Banking Group of U.S. Trust. VantageScore is a predictive scoring system that was created jointly by Equifax, Experian, and TransUnion. VantageScore can be found online at http://www.vantagescore.com.

The Mortgage Industry Standards Maintenance Organization, a not-for-profit subsidiary of the Mortgage Bankers Association, has announced the appointment of its board of directors.The MISMO board consists of five members selected from the real estate finance industry and one ex-officio member elected from the ranks of MISMO's Governance Committee. The board includes the following newly appointed members: William Shuler, chief information officer of Residential Capital Corp., Horsham, Pa.; William Frazer, senior managing director and chief financial officer of CBRE|Melody, Houston; Stephen W. Gozdan, CFO of Cenlar FSB, Ewing, N.J.; and Dawn Gibbs, president and chief executive officer of FICS, Addison, Texas. Catherine Rodewald, managing director and CIO of Prudential Mortgage Capital Corp., Dallas, was appointed to the board last year, and the ex-officio MISMO governance director is James P. Cooke, of counsel at Ballard Spahr Andrews & Ingersoll LLP, Washington, D.C. MISMO, which develops technology standards for the real estate finance industry, can be found online at http://www.mismo.org.

Michael W. Perry, chairman and chief executive officer of IndyMac Bancorp Inc., Pasadena, Calif., has signed a five-year CEO contract with IndyMac that contains options for five more years, according to the company.The contract is largely based on a pay-for-performance arrangement under which incentive compensation is targeted as a percentage of net income and tied to the achievement of earnings-per-share growth targets, IndyMac said. John Seymour, an IndyMac director and a former U.S. senator from California, said the company's shareholders have realized average annualized total returns of 22% over Mr. Perry's 14-year tenure. "When Mike joined the company in 1993, we had only four employees and almost no business, and we were marginally profitable," the former senator said. "Today, IndyMac has over 8,000 employees, is the eighth-largest thrift and ninth-largest mortgage lender in the nation, and makes over $360 million in net income per year." The company can be found online at http://www.indymacbank.com.

Donna "Sissie" Childress has been named president of Community Resource Mortgage Inc., Orangeburg, S.C., a subsidiary of Community Bankshares Inc.Ms. Childress was most recently executive vice president and manager of loan operations at the mortgage company. She replaces Wade Douroux, who recently left the company to pursue "other opportunities," Community Bankshares said. Ms. Childress established an independent mortgage company in 1992 and launched two other mortgage businesses, Community Bankshares said. The company can be found on the Web at http://www.communitybanksharesinc.com.