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Fannie Mae has announced the hiring of S. Jean Hinrichs, who will join the mortgage giant in July as its chief internal auditor.Ms. Hinrichs, whose title will be senior vice president for internal audit, will be charged with conducting a risk assessment and then developing and executing a comprehensive audit program, Fannie Mae said. She will also be responsible for dealing with the outside auditor, Deloitte & Touche LLP, and the company's safety-and-soundness regulator, the Office of Federal Housing Enterprise Oversight. "A sound and effective internal audit function will ensure that internal audit activity is compliant with all professional and ethical standards as the company moves through the reaudit and restatement process," said Fannie Mae chairman Stephen B. Ashley. Ms. Hinrichs established a global internal audit function at Barclays Global Investors, San Francisco, where she was employed from 1997 to 2004, Fannie Mae said. She was previously vice president and general auditor of the Federal Reserve Bank of San Francisco. Fannie Mae can be found online at http://www.fanniemae.com.
June 28 -
Robert G. Partlow has resigned his position as senior vice president and chief financial officer of Fieldstone Investment Corp., a residential mortgage banking company based in Columbia, Md., according to Fieldstone.The company said Mr. Partlow resigned for personal and family reasons. He will remain with Fieldstone until Aug. 5. The company said it has launched a search for a new CFO. Fieldstone can be found online at http://www.fieldstoneinvestment.com.
June 27 -
Michael W. Carrie, former chief financial officer of Flagstar Bancorp Inc., a major mortgage lender based in Troy, Mich., has resigned from Flagstar's board of directors and entered into a consulting agreement with the company.Flagstar said Mr. Carrie also resigned from the board of directors of its wholly owned subsidiary, Flagstar Bank FSB, and that he will consult with Flagstar through March 2006 to assist in the transition of the successor CFO. In addition, the company announced the appointment of Brian Tauber as an independent member of both Flagstar boards to fill the vacancies resulting from Mr. Carrie's resignation. Mr. Tauber is president and chief executive officer of Carolina Precision Plastics. Flagstar, which operates home loan centers in 27 states, can be found on the Web at http://www.flagstar.com.
June 23 -
Mary Salinas Durón has been named executive vice president of the national multicultural sales group of Countrywide Home Loans Inc.Ms. Durón will oversee Countrywide's House America branches and national counseling center, which provides home loan counseling and homebuyer education. The multicultural sales group provides business development and sales support for the company's various business channels, focusing on affordable loan products, sales force diversity, consumer education, and relationship building among community, faith-based, and industry organizations, Countrywide said. Ms. Durón was previously senior vice president and director of Countrywide's national emerging markets group and its House America and fair-lending efforts. She has more than 20 years of experience in community reinvestment and fair-lending programs. Countrywide can be found online at http://www.countrywide.com.
June 22 -
George L. Houghton Jr. has been promoted to national independent title agency director at Stewart Title Guaranty Co., a new post the company said is designed to promote a smooth delivery system for its independent agency network.Mr. Houghton, a 30-year veteran of the title industry, came to Stewart Title of Houston in 1998 as senior vice president and downtown commercial office manager. In 2000, he became vice president and district agency manager for South and West Texas. Before joining Stewart, he was president, chief executive officer, and majority owner of Fort Bend Title Co., and later worked as assistant to the president of another underwriter, Stewart said. Stewart Title's parent company, Stewart Information Services Corp., can be found online at http://www.stewart.com.
June 22 -
Marc Connelly has been named executive vice president for sales at LandAmerica OneStop, an online subsidiary of LandAmerica Financial Group Inc., Richmond, Va.Mr. Connelly, who is based in Alpharetta, Ga., was most recently senior vice president for sales at LandAmerica OneStop. LandAmerica Financial is a provider of real estate transaction services for mortgage lenders nationwide. It can be found online at http://www.landam.com.
June 21 -
Nomura Securities International Inc. has hired Jack A. Leventhal as a managing director and the head of U.S. financial institutions in NSI's investment banking division.Mr. Leventhal's responsibilities will include the expansion of NSI's financial advisory business to multinational financial institutions based in the United States and the creation of a middle-market investment banking business to U.S. financial institutions. He is based in New York. Tomoko Iino, managing director and head of investment banking at NSI, said Mr. Leventhal's "extensive background in cross-border transactions and experience in the U.S. make him a major asset to our firm as we expand our cross-border business as well as business in the U.S." Mr. Leventhal was chief executive officer and global head of financial institutions for Deloitte & Touche corporate finance in 2004 and 2005, and he also served at UBS, beginning in 1995. He was responsible for the creation and implementation of structured nonperforming loan transactions and led UBS's distressed portfolio principal investment activity in China and Japan.
June 17 -
Paul Mullings, a mortgage industry veteran, has been named senior vice president of single-family mortgage sourcing at Freddie Mac.Mr. Mullings joins Freddie Mac from JP Morgan Chase, where he was senior vice president of mortgage finance, and fair lending executive at Chase Home Finance. Before joining Chase Home Finance in 1997, Mr. Mullings was president and chief executive officer of Mortgage Electronic Registration Systems Inc. "He led MERS during the organization's launch and successful capitalization, and was instrumental in the development of the first set of industry standards that are leading the mortgage market to a paperless process," Freddie Mac said. Before helping to launch MERS, Mr. Mullings was president and CEO of the residential mortgage division of First Interstate Bank, Los Angeles. Freddie Mac can be found online at http://www.freddiemac.com.
June 15 -
The First American Corp., Santa Ana, Calif., has announced the promotion of Roger Hull, the company's chief information officer, to executive vice president.The company said the promotion came in recognition of "the key role [Mr. Hull] has played in developing and integrating First American's technology and business strategies," specifically the First American Web Services offering that now provides the backbone for delivering First American's products, services, and processes. Before joining First American, Mr. Hull's 25 years of information technology experience included serving as senior technology officer for Coldwell Banker from 1992 to 1998, when he took on that same role for First American Title Insurance Co. Mr. Hull was the subject of a feature interview in the January/February 2005 issue of Mortgage Technology magazine, a MortgageWire affiliate.
June 14 -
David Stern has been named to head the Securitization Syndicate Americas of SG Corporate & Investment Banking, a unit of the Societe Generale Group, a European financial services group.Mr. Stern will be responsible for pricing and underwriting securitizations, including residential and commercial mortgage-backed securities, asset-backed securities, and collateralized debt obligations. He was most recently a senior member of the ABS syndicate desk at J.P. Morgan. Mr. Stern will be based in New York.
June 10