First Nationwide Mortgage Corp., Frederick, Md., has hired an industry veteran to oversee loan production.
As executive vice president, Terry Rowland presides over First Nationwide's retail, wholesale, correspondent, and nonconforming lending channels. He started work July 22.
His first few months are likely to be busy, given the plan by the mortgage company's San Francisco-based parent, First Nationwide Bank, to acquire Cal Fed Bancorp. The deal, which is expected to close in the first quarter of 1997, would vault First Nationwide Mortgage into third place among mortgage lenders in California, up from 13th at present.
Prior to joining First Nationwide Mortgage, Mr. Rowland was a senior vice president at Knutson Mortgage Co., in charge of the Bloomington, Minn., lender's turnkey retail origination system, Residential Express. Before that, he was president of consumer markets at Countrywide Funding, Pasadena, Calif.
Mr. Rowland reports to Walter C. "Terry" Klein Jr., president and chief executive of First Nationwide Mortgage. He replaced Kevin Gillespie, who left in June to head production at Weyerhaeuser Mortgage Co. Mr. Klein joined the company in January from PNC Mortgage.
Before joining Countrywide, Mr. Rowland was president of Prosperity Mortgage Corp., Fairfax, Va. He was also senior vice president of realty services at Travelers Mortgage Services.
First Nationwide's mortgage subsidiary was formed last April with assets from the thrift and those gained through acquisitions of Standard Federal Bank, Gaithersburg, Md., and Lomas Mortgage USA. It was the 20th-largest loan servicer as of June 30.