MBNA Corp. chief financial officer Vernon Wright is tying up loose ends ahead of his scheduled Dec. 15, retirement date, after which he still plans to serve as an advisor with the firm, as well as remain on the MBNA America Bank board of directors. Wright will also continue working with the American Securitization Forum, which he helped found in 2002. "All I am trying to do is get down to 40 hours a week," Wright quipped. Taking over his duties, beginning in December will be group executive Tom Wren and Kenneth Vecchione, who assumed the MBNA Corp. CFO role on Sept. 30.

Ray McDaniel will become chairman and chief executive officer of Moody's Corp., effective April 2005, when John Rutherford plans to resign at the age of 65. In his new role, McDaniel will continue to have responsibility for both the Moody's Investors Service and Moody's KMV businesses. McDaniel has served as president of Moody's Investors Service since November 2001, and was elected to the Moody's Corp. board of directors in April 2003. Co-chief operating officers Brian Clarkson and Chris Mahoney will remain in their respective positions, jointly reporting to McDaniel.

Additionally, Moody's Investors Service has named Roger Stein as head of a newly formed new products team within the structured finance group, reporting to Noel Kirnon group managing director and head of CMBS and derivatives. Stein will assume the new position of team managing director of Moody's managed funds group, which has been transitioned into the structured finance group. Most recently Stein served as a senior manager at Moody's KMV. Stein joined Moody's in 1989 as a member of the structured finance group, rating collateralized bond obligations.

The Mortgage Bankers Association elected Michael Petrie, president of Carmel, Ind.-based P/R Mortgage and Investment Corporation, as its new chairman. The MBA also announced the election of Regina Lowrie, president of Gateway Funding Diversified Mortgage Services in Fort Washington, Pa., as chairwoman-elect as well as John Robbins, chairman and CEO of American Mortgage Network as vice chairman. Among Petrie's first priorities is launching MBA's new strategic plan, which includes three goal-driven initiatives. Petrie replaced Robert Couch, president of New South Federal Savings Bank.

SG Corporate & Investment Banking has named Veronique Courtade as its new global head of asset finance, with responsibility for structured finance, aircraft and shipping finance, taking over the duties of Diony Lebot, who was recently named head of coverage for Europe. Additionally, Bertrand Descours will head a new real estate finance group, in charge of real estate structured finance and leasing activity. Both were appointed to SGCIB's debt and finance executive committee, reporting to deputy global head of debt finance Tommy Chua.

Deutsche Bank Securities has named managing director Erik Falk to head a new special situations group within the firm's global markets division. The special situations group will work with other third party intermediaries target assets and operating companies across a wide array of industries, including consumer and commercial finance, insurance and other companies with predictable cash flows and introduce services and products to companies, targeting acquisition and divestiture situations as well as companies with discrete capital needs. In his new role, Falk reports to Richard d'Albert, co-head of DBSI's Global Securitized Products Group.

Fitch Ratings has hired Emmanuelle Nasse-Bridier as a senior director in its structured finance group, reporting to managing director Olivier Delfour. Nasse-Bridier had spent five years at Axa Investment Managers managing the firm's ABS and CDO portfolios. Priior to AXA, Nasse-Bridier worked in the structuring group at Credit Lyonnais.

Jack Radin as joined MortgageIT as a senior vice president, capital markets, reporting to chief lending officer Philip Kukafka. Radin joins from E*Trade Financial, where he served as director of mortgage finance. In his new role, Radin will oversee trading, hedging and capital markets activities as well as product development.

Fannie Mae announced that the company has taken additional steps toward enhancing disclosures for its mortgage-backed securities. Beginning this month, the GSE will add a number of new data elements to REMIC securities reported on its PoolTalk system. Fannie Mae will begin reporting data on the its whole loan-backed REMIC security collateral subgroups, including weighted average coupon and weighted average maturity quartiles, as well as distributions on loan age, loan size, geographic location, origination year, amortization terms, amortization type, property type, occupancy and loan purpose.

Nelnet Inc. announced the acquisition of EDULINX Canada Corp. from CIBC for an undisclosed price. The transaction is expected to close on or about Nov. 30. EDULINX, services approximately 1 million student loans totaling approximately $7 billion, will remain a Canadian company and will complement Nelnet's current U.S. operations.

Fieldstone Investment Corp. reported that its investment portfolio of nonconforming loans through Sept. 30, was $4.1 billion, a 31% increase from the end of the second quarter of 2004. Additionally, Fieldstone's net interest income from its portfolio of nonconforming loans was $36.8 million. It also reported originating a record $1.7 billion of nonconforming loans in 3Q04, an increase of 15.6% compared to 3Q03.

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