Subprime mortgage lender New Century Financial Corp. tapped Taj Bindra, Washington Mutual's executive vice president of mortgage banking, capital markets and servicing operations to replace Patti Dodge, its chief financial officer. Bindra's new role as CFO of New Century is effective Nov. 15. Dodge announced, following the second quarter, that she planned to leave her post as CFO, in exchange for a position as executive vice president of investor relations at the Irvine, Calif.-based lender. New Century also hired Ralph Melbourne, formerly director of strategic initiatives at Washington Mutual, as senior vice president, consumer direct division for its retail lending subsidiary Home123 Corp.
Bridger Commercial Funding, a mortgage loan and a commercial real estate debt-trading services provider, hired Rhonda McGovern as vice president of originations. In her new role, McGovern will focus on managing the loan origination efforts of Bridger's east coast business from the company's New Jersey office. Bridger CEO Bob Schonefeld said, "Rhonda is well versed in all aspects of CMBS (Commercial Mortgage Backed Securities) origination, underwriting and securitization. She will play a critical role in helping Bridger continue to build its CMBS lending franchise within the banking industry." McGovern has more than eight years of related CMBS experience with industry-known companies such as Deutsche Bank and Eurohypo. The new hire was part of the group that established Eurohypo s CMBS platform in the U.S.