Bank of America Rehires Exec Who Defected to Countrywide

BankAmerica has brought one of its former executives back into the fold to manage its secondary-market relationships.

Madelyn Niese has been named head of the area, reporting to Claus Lund, senior vice president and head of mortgage asset management.

Ms. Niese, a banker with 17 years of experience in mortgage lending, is returning to Bank of America after a two-year stint at Warehouse Lending Corporation of America, a unit of CWM Holdings Inc., Pasadena, Calif., a conduit that was formerly part of Countrywide Credit Industries. Countrywide and CWM still share many executives.

In her new position, she will be charged with managing the bank's relationships with agency investors and conduits.

At Warehouse Lending she developed clients for temporary funding of loans headed for the secondary market. She also negotiated commitments and closed transactions.

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Greenpoint Bank has promoted Gwen E. Perry to vice presdent, chairman Thomas S. Johnson announced.

Ms. Perry will have primary responsibility for the bank's mortgage marketing and advertising efforts.

She will also focus on developing and implementing programs to attract business from brokers and other mortgage professionals.

Greenpoint's Advantage program attempts to win business from mortgage brokers by offering them discounted points and expedited approvals in exchange for increased loan volume.

Ms. Perry has been with Greenpoint since 1979, in its fire insurance and marketing divisions.

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Eastern Mortgage Services Inc. has named Richard W. Payne 3d president and chief executive. He joined Eastern last year as vice president of secondary marketing.

Also promoted was Robert G. Gundaker, who becomes executive vice president for national retail production. He has been with the company for just five months and had been a senior vice president.

Eastern, based in Trevose, Pa., is a subsidiary of Dauphin (Pa.) Deposit Bank and Trust Co.

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