The Mortgage Bankers Association of America has recently named Julie Parker McCahill as senior staff vice president of its marketing and communications group, effective Dec. 15. She will direct the MBA's external and internal communications program. She currently serves as senior vice president of public affairs at Ketchum Public Relations in Washington, DC.
Red Mountain Funding LLC's commercial mortgage passthrough certificates Classes F, G and H have been placed on RatingAlert-Negative by Fitch IBCA. These classes contain three loans "of concern" to the rating agency. One is secured by a property in Dallas that has lost Medicare and Medicaid funding. One has exposure to "Sun Healthcare," and the third is secured by four properties in eastern Connecticut experiencing declining performance.
Pacific Thrift & Loan Co. in Woodland Hills, Ca. was shut down by state regulators Nov. 19 because it could not meet its capital requirements. The state industrial bank and subprime mortgage wholesaler forfeited all of its $117.6 million in assets to the Federal Deposit Insurance Corp. The assets included $55 million in subprime loans and $48million in interest-only residuals.