In attempts to keep on top of the game with an ever-growing asset-backed securities market, Moody's Investors Service has made some changes. Michael Kanef will assume the position of managing director. In his new position, Kanef will work closely with Linda Stesney, who will also be taking on responsibilities for the Latin American Finance team.
Addionally, Jay Eisbruck will now be responsible for the consistency in the rating committee process and he will also direct a team of rating analysts that will focus on esoteric assets. Andy Silver will also head up a new research team that will focus on refining existing rating methodologies to reflect the changing marketplace. Silver will develop new approaches to assets and structures within Moody's.
As part of the restructuring, Mark Adelson will take on Silver's former position of monitoring the process. Adelson will work to refine the group's publication strategy, and develop rating indicators.
Jeff Thompson of Koch Capital Services, Inc. has been appointed to the new interim chairman and chief executive officer of Enterprise Mortgage Acceptance Co. (EMAC) by the company's board of directors.
Ken Saverin, former EMAC CEO, and Jeff Knyal, formerly chief operating officer, will no longer have an active role in the daily management of the company.
Dwight Jenkins has been named Senior Vice President at Lord Securities. Jenkins will take on more of operational role Lord while continuing focus on business development.
New to the loan market this year, First Horizon Home Loan Corp. recently filed a shelf with the Securities & Exchange Commission, allowing the company to securitize up to $1 billion in home equity loans.
First Horizon has already done four whole loan deals this year, totaling just over $1 billion, according to Thomson Financial Securities Data.
First Horizon's deals will be wrapped by Financial Security Assurance.