Industry News

Real estate management changes at BofA

Floyd Robinson named president of consumer real estate

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Bank of America announced today that Floyd Robinson has been named president of the bank's consumer real estate division. He replaces Kevin Shannon, who will now serve as the bank's central credit management and portfolio analysis executive. Robinson will oversee the bank's mortgage-related activities and will continue the company's efforts to become the preferred mortgage and home equity provider. In his new role, Shannon will report to Amy Brinkley, the bank's chief risk officer. The announcement is just one more example of changes the mortgage industry has gone through in recent months. In June, Pete Wissinger, head of Wells Fargo Home Mortgage, moved to Wells Fargo's retail insurance businesses. Cara Heiden, head of national consumer lending, and Mike Heid, mortgage CFO assumed Wissinger's mortgage responsibilities. And Cendant Corp. announced in July it is considering selling its mortgage origination platform and mortgage servicing business. That is one option the company sa...