Home - Grapevine - Ask the Experts - BrokerWire - Buyer's Guide - Classified Ads - Conference Calendar - Database - Free Newsletter - Making the Sale - Market Conditions - Marketing Tips - Mortgage University - The Paper Warehouse - Quality Time - Special Reports - SubPrime Lending - Technology News - This Week from Broker Magazine - What We're Hearing - WeirdLoans

Special Reports Nonprime Lending Nonprime Lenders Suffer in 3Q 2006 Analysis: Buybacks Unlikely to End Soon Buybacks, Defaults Cause ECC Losses Delinquencies, Margin Pressures Cause Fieldstone to Lose $45MM Nontraditional Credit Evaluation Key to Latino Loans Study Validates Use of Fair Isaac Expansion Score PRBC Completes Equity Funding Round Brandt Out as CEO of WMC Mortgage Restatement At Opteum Skolnick Heads BNC By Paul Muolo Lehman Brothers has hired First Franklin Financial Corp. executive Steve Skolnik, to run its BNC Mortgage affiliate, Origination News has learned. A spokesman for Lehman Brothers confirmed the news last month. He also said BNC's current CEO, Kelly Monahan, will remain with the company but "will have other duties" at Lehman. A spokesman for National City Corp., Cleveland, which owns FFFC, confirmed that he has left the subprime lender. Mr. Sklonik will hold the title of CEO at BNC. At FFFC he served as EVP of production. BNC is headquartered in Irvine, Calif. Last year, Lehman merged its other subprime wholesale unit, Finance America, into BNC. BNC ranks 14th among subprime funders, according to figures compiled by ON and the Quarterly Data Report. One competitor said of Mr. Skolnik: "Steve is tough. This is a huge move for BNC."

Click here for advertising information.
For technical support, e-mail webmaster@brokeruniverse.com
For reprints, call Charlton Sanabria at 212-803-8377.
Privacy Policy
© 2008 Broker magazine and SourceMedia, Inc. All rights reserved.
Use, duplication, or sale of this service, or data contained herein, is strictly prohibited.