Career moves

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.

Monroe Credit Advisors, an affiliate of middle market lender Monroe Capital, said it added Jeff Knopping as a managing director and partner to open its New York office.

3i Debt Management has hired former Credit Suisse CLO chief Andrew Bellis to head up the firm’s global growth effort, the company said.

The credit scoring system is broken, plain and simple.

The Mortgage Bankers Association (MBA) has formed a select committee to find a replacement to departing president David Stevens with 15 candidates being thrown into the pool, according to officials familiar with the process.

The Securities and Exchange Commission(SEC) has appointed Thomas Butler as director of the agency's new office of credit ratings, which was created by the Dodd-Frank Act.

SunTrust Mortgage has named two new executive presidents, hiring industry veterans from PNC Mortgage and IBM Corp.

Maureen Stewart joined NewOak Capital as managing director of mortgage credit and compliance services, where she will help establish an “integrated, expert-driven mortgage credit advisory services platform.”

Paramount Residential Mortgage said it has hired former Caliber Funding official Dave Pilotte as its new wholesale manager in charge of the Inland Valley area and Southern California.

The Government National Mortgage Association (GNMA) is in no rush to sell the $11.5 billion of mortgage servicing rights that it inherited almost two years ago when nonbank lender/servicer Taylor, Bean & Whitaker failed.

Matthew S. Feig has hopped over to Stroock & Stroock & Lavan from Cadwalder, Wickersham & Taft. He was started June 7 in the N.Y. office as special counsel in the structured finance and insurance practice groups.

Competition from jumbo loans and recent delays in key secondary market regulations are key hurdles holding back the long-awaited return of this secondary market, which is making some strides in other areas.