Harris Nesbitt hired Eric Schubert as managing director and head of structured finance, reporting to Surjit Rajpal, head of loan products. Schubert joins Harris Nesbitt after nearly 25 years in the investment and corporate banking group at Banc of America Securities, where he was a managing director, leading a team of professionals that provided structuring and syndication expertise to BofA's middle-market banking groups in the Midwest and on the West Coast.
Mark Casale was named executive vice president for mortgage insurance at Radian Group Inc., responsible for the firm's U.S. mortgage insurance business. Casale was most recently the insurer's senior vice president for capital markets responsible for developing credit enhancement solutions for nonprime mortgage originators and securities firms. Before joining Radian in 2001, Casale held various executive positions in Advanta Corp.'s mortgage group.
Former senior Treasury Department official and Wall Street veteran Timothy Bitsberger was appointed treasurer and senior vice president for funding and investor relations at Freddie Mac. Bitsberger, due to start in January, was most recently assistant secretary for financial markets at the Department of the Treasury. He was advisor to the undersecretary for domestic finance on federal debt management policy and financial market oversight, among other things. Bitsberger was also a board representative in the Pension Benefit Guaranty Corp., and worked as senior vice president of investments at Salomon Smith Barney.
John Price was named president and chief executive officer of the Federal Home Loan Bank of Pittsburgh, effective Jan. 2. Price will take over for James Roy, who will retire at year-end. Price has served as senior advisor at the Institute of International Finance in Washington, DC, a global organization with some 340 banks and Central Banks as members.
Piper Jaffray named Ben May as its new head of high yield and structured products within the corporate and institutional services business. In his new role, he will oversee sales and trading, as well as head the debt capital markets group, reporting to Tom Schnettler. May joins from Wachovia Securities, where he held several positions, including head of its credit products group.
The Commercial Mortgage Securities Association named Jack Nowakowski as its new director of research and education, the industry group announced last week. In his new position he will be responsible for establishing establish CMBS statistics research products, report on industry trends and expand the group's educational offerings. Nowakowski previously worked as the director of research at the Pension Real Estate Association.
EDGAR filing and financial printing solutions provider Vintage Filings has hired L. Assata Bradford from JPMorgan Chase and Lori McNeil and Amanda Philip, both from Goldman Sachs. In their new roles, they will coordinate typeset output, overseeing clients' printing needs from the time Vintage Filings receives job specifications until final distribution. As a part of this responsibility they will guide each document through the process of conversion, edit, print specifications, and finally distribution
A survey released last week by Radian Guaranty reported that 52% of all U.S. homeowners were not at all or only somewhat knowledgeable about the mortgage options available to them at the time they purchased their homes. Harris Interactive conducted the survey for Radian. Correspondingly, only 48% of survey participants were knowledgeable or very knowledgeable about the options available to them, these participants were more likely to be homeowners above 55 years old (55%), divorced, widowed or separated (54%) and have at least a college education (51%). In terms of gender, 49% of women and 46% of men homeowners said they were knowledgeable or very knowledgeable. The survey also disclosed that 66% of Americans own their homes and 47% have a home mortgage. Slightly larger proportions of homeowners in the Northeast (50%) and West (50%) considered themselves knowledgeable or very knowledgeable about mortgage options as compared to homeowners in the South (46%) and Midwest (45%).
The American Securitization Forum is hosing a Sunset Seminar on Wednesday Dec. 7 to discuss the application of securitization to industries other than consumer finance. The gathering will take place at its Manhattan headquarters, with a holiday reception to follow.
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