A number of employees, including two partners, have recently left residential mortgage financing and asset management firm The Winter Group. Sources close to the company adamantly deny the departures are related to any financial trouble whatsoever, although rumors are circulating that the firm is clamoring to keep up on high salary and office space expenses amid losses stemming primarily from its subprime second mortgage portfolio.
Partners Karey Geddes and Kimberly Maska recently retired from TWG. Also gone from the firm is scratch and dent trader James Dooley, now employed at Washington Mutual. Whole loan trader Mike Flynn and banker Mary Rappaport are also no longer employed by the company. Despite all the talk, TWG closed a second lien securitization on Thursday, and is expected to complete several more by yearend.