Bear, Stearns & Co. priced a Ginnie Mae real estate mortgage investment conduit backed by $250 million of Ginnie Mae I 7% fixed-rate certificates. The Remic priced Jan. 21, 2000 and will settle Feb. 29. Blaylock & Partners co-sponsored the sale.
Joel Katz, former president and chief executive officer of Union Planters Mortgage Co., has been hired by Salomon Smith Barney as a director in its mortgage finance group, in charge of new business development. Before serving as CEO of Union Planters, Katz was the president and CEO of Boatman's National Mortgage Inc.