Career moves

WASHINGTON — Twelve Democratic senators have called for a U.S. investigation into any role banks and regulators may have played in the scandal over the London Interbank Offered Rate.

THL Credit Advisors, the credit affiliate of private equity firm Thomas H. Lee Partners, acquired a credit group from McDonnell Investment Management.

McDermott Will & Emery has hired structured finance attorney Perry Sayles to its New York office as a partner in its financial institutions advisory practice group.

While testifying before the House Subcommittee on Capital Markets and Government Sponsored Enterprises today, American Securitization Forum (ASF) Executive Director Tom Deutsch advised policy makers to thoroughly analyze how the implementation of the Dodd-Frank Act’s various rules will cause cumulative harm to the securitization market.

WASHINGTON — In its first year of operation, the Consumer Financial Protection Bureau (CFPB) has already proved to be one of the busiest regulators in Washington.

Countrywide's VIP program not only benefited numerous members of Congress, but also assisted a handful of Capitol Hill staffers and Department of Housing and Urban Development (HUD) Secretary Alphonso Jackson as the mortgage lender built a large web of political influence prior to the financial crisis, according to a congressional report released Thursday.

Over the past 18 months, KB Home experienced a “great deal of disruption” as Bank of America (BofA) and MetLife curtained their lending mortgage activities, according to the builder’s president and chief executive.

In a last-minute reversal, David H. Stevens, the president and chief executive of the Mortgage Bankers Association (MBA), will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.

Issuance of European CLOs may be stalled, but 3i Debt Management believes that once the macro-economic picture improves, these structured finance vehicles will resume their role as important players in the region's loan market. That was part of the rationale for the London-based firm's recent acquisition of seven European CLOs from U.S. money manager Invesco.

A loan officer for a Florida mortgage company was sentenced to more than four years in prison for pleading guilty to committing wire fraud in a $9.2 million mortgage fraud scam.

At last week’s American Securitization Forum Sunset Seminar, panelists discussed how the proposed Franken amendment creates unintended consequences in applying credit ratings.

Wells Fargo & Co. said it reached an agreement to acquire WestLB’s subscription finance portfolio worth approximately $6 billion in commitments.

CRE Finance Council (CREFC) has selected of Paul Vanderslice as its president for the 2012-2013 term.

Robert A. Harris has joined due diligence provider Clayton Holdings as general counsel, according to a release from the firm.

NewStar Financial said it added Mark Denomme as a managing director for its leveraged finance group.

Given the economic uncertainty in Greece, many investors were interested in the results of the Greek election last weekend that resulted in New Democracy (ND) leader Antonio Samaras winning.

A group of former policymakers are arguing that the government is not making good use of the regulatory reforms enacted in the Dodd-Frank Act nearly two years ago.

The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.