Todd Chamberlain, a 25-year veteran of the mortgage industry and the head of residential lending at Regions Financial, left the company last week to take a job with a competitor, industry officials told National Mortgage News.
Early Tuesday morning a spokeswoman for the Alabama-based Regions confirmed that Chamberlain had departed from the mid-sized bank but did not know which competitor he joined. Sources indicated that he accepted a position with a depository in the mid-Atlantic region.
Chamberlain’s responsibilities at Regions were given to Logan Pichel, an executive vice president at the bank.
Among residential lenders, Regions ranks 21st nationwide, according to figures compiled by NMN and the Quarterly Data Report. Regions services roughly $43 billion in home mortgages, ranking 23rd in that category.
Last week rumors surfaced that Union Bank of San Francisco might be eyeing Regions for a takeover, though one source close to Union told NMN that he had no knowledge of a pending deal.