Loan Value Group named Craig Lipsay as managing partner. In his new role, Lipsay will work directly with institutional clients to implement Loan Value Group's Responsible Homeowner Reward, a program that offers cash payments to eligible homeowners affected by negative equity, but who remain current on their mortgages.

Lipsay has 19 years' experience in all mortgage products, in both residential and commercial, as well as all structured credit products. He was previously a co-head of the North American strategic solutions group at Merrill Lynch, and, earlier, was head of North American securitized product sales at Morgan Stanley. 

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