People

David H. Stevens, the man in charge of sales for Freddie Mac, has left the mortgage giant for one of its largest customers, Wells Fargo Home Mortgage, San Francisco, MortgageWire has learned.A spokesman for Freddie Mac confirmed that Mr. Stevens had left the government-sponsored enterprise. He said Mr. Stevens will head the correspondent division of Wells Fargo Home Mortgage. In May 2003 Freddie Mac named Mr. Stevens to lead its national lending division. At the time he was senior vice president and general manager of the company's community lending division.

The chief executive, the chief operating officer, and the head of human resources have left the Lehman Brothers-owned Finance America, a top-20-ranked subprime lender, MortgageWire has learned.Three sources close to the company confirmed the departures. Two wholesale account executives were also let go, a source confirmed. However, Lehman Brothers declined to comment on the record or to identify the fired executives. The Lehman unit, which table-funds most of its production through loan brokers, employs about 1,000 in 48 states. Besides FA, Lehman controls two other mortgage companies: Aurora Loan Services of Colorado, and BNC Mortgage, Irvine, Calif.

Federal Reserve Board governor Edward Gramlich has announced he is resigning effective Aug. 31 to pursue several teaching and research interests.Mr. Gramlich, 65, has served on the board since November 1997 and has played key roles in pushing through major changes to the Fed's Home Ownership and Equity Protection Act and Home Mortgage Disclosure Act regulations. His efforts increased the number of high-cost subprime loans subject to HOEPA restrictions and required lenders to provide pricing data on high-cost loans as part of their annual HMDA reports. Prior to joining the Fed, Mr. Gramlich was dean of Michigan University's School of Public Policy.

Brandon Barnett has been named executive vice president for strategic initiatives at LandAmerica OneStop, a Richmond, Va.-based online provider of real estate transaction services for mortgage lenders.Mr. Barnett was most recently vice president for strategic initiatives and director of affiliated services at LandAmerica OneStop, a subsidiary of LandAmerica Financial Group Inc. He is based in Pittsburgh. LandAmerica can be found on the Web at http://www.landam.com.

HUD associate general counsel John P. Kennedy is moving to the Federal Housing Finance Board next week to become the new general counsel at the agency that oversees the 12 Federal Home Loan Banks.He replaces general counsel Mark Tenhundfeld, who is leaving the Finance Board to join a private firm. A career attorney at the Department of Housing and Urban Development, Mr. Kennedy was charged with responsibilities in areas such as Real Estate Settlement Procedures Act reform and the affordable housing goals of Fannie Mae and Freddie Mac. Mr. Tenhundfeld has taken a position at Promontory Interfinancial Network LLC, based in Arlington, Va. Headed by former Comptroller of the Currency Eugene Ludwig, Promontory Interfinancial provides certificate of deposit services that enable banks to offer their customers deposit insurance protection of up to $15 million.

Health Care Property Investors Inc. has promoted Stephen R. Maulbetsch to executive vice president-acquisitions and dispositions. Mr. Maulbetsch was previously senior vice president-acquisitions and dispositions for the company, according to HCPI. He has been with the company for 20 years and has been a key player in its growth from its initial public offering in 1985, HCPI said. Health Care Property Investors is a real estate investment trust based in Long Beach, Calif. that invests directly or through joint ventures in healthcare facilities. The company can be found on the Web at http://www.hcpi.com.

Tom Renshaw has been named president and chief operating officer of Team One Mortgage Services Inc., a subsidiary of Equus Resources Inc., a financial services company based in the Atlanta suburb of Roswell, Ga.Before joining Team One, Mr. Renshaw, 47, was a principal and co-founder of several companies, including an Atlanta-based mortgage company, Equus said. He has held real estate, mortgage, securities, and insurance licenses, and has experience in residential and commercial real estate sales, development, and finance as well as residential and commercial mortgage management, the company said. Team One can be found online at http://www.teamonemortgage.com.

Deutsche Bank's mortgage-backed securities unit has added two new hires.Hyung Myung Peak, who previously worked for RBS Greenwich Capital, has joined Deutsche Bank as a managing director and head of private-label collateralized mortgage obligation trading. Adam Yarnold, who formerly worked for UBS, has joined Deutsche Bank as a director and head of adjustable-rate mortgage trading. Deutsche Bank can be found on the Web at http://www.db.com.

SG Corporate and Investment Banking, a subsidiary of French Bank Societe Generale, has created a U.S. mortgage-backed securities group and hired U.S. industry veterans to launch the business."The new initiative allows SG CIB to develop U.S. RMBS capital market capabilities to complement its existing RMBS businesses in Europe and Australia," the company said. "The move also enhances SG CIB's global structuring and distribution capacity to help issuers tap the U.S. or European markets." The following MBS professionals have joined the new unit as directors: David Chang, who previously traded seasoned and distressed mortgage credits at Deutsche Bank; Abner Figueroa, who worked for Eurohypo AG; Carole Mortensen, who worked for UBS; Rob Pak, who was part of SG CIB's collateralized debt obligation group; and Graham Henley, who was responsible for the residential mortgage warehouse program at Garban-Intercapital. Yuan Zhou, who previously worked for C-BASS, has also joined the SG CIB unit and has been named a vice president.

ComUnity Lending, Morgan Hill, Calif., has announced the formation of a new Executive Leadership Team with the promotions of Jayson Stebbins and Janene Towner to executive vice president.The mortgage lender said the pair will join company president and chief executive officer Darryl Fry on the three-person executive team, which will oversee the company's strategic initiatives and planning, including its "aggressive" expansion efforts. Mr. Stebbins has been senior vice president of production for several years, and Ms. Towner was most recently senior vice president and chief operating officer. The company said the move was prompted by its "stunning growth over the past few years and opportunities created by several new ventures." ComUnity Lending said it now has more than 1,300 full-time employees in 40 licensed states. The company can be found online at http://www.communitylending.com.