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 said it would consider as it looks for “strategic alternatives” for its mortgage business.

This week, Countrywide reported a 24 percent decline in loan fundings in August from a year ago.

“This organizational change leverages two of Bank of America’s strongest leaders in two of the most important areas for our company,” said Liam McGee, president of consumer and small business banking. “Floyd is an exceptional leader who will be depended on to help us continually position mortgage and home equity as primary drivers of growth and a basis for deep consumer relationships. Kevin’s leadership has been instrumental in establishing consumer real estate as a contributor to the corporation, and under Amy Brinkley’s leadership, we will all benefit from his focus on managing credit risk across the corporation.”

***

Send tips or a Letter to the Editor to samantha@inman.com or call (510) 658-9252, ext. 140.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect is LIVE next week! Join us and thousands of your peers from wherever you are.Register Today×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription