Capital Briefs: Word Due on Mortgage Bankers' New Chief

The Mortgage Bankers Association is expected to announce this week who has been hired to lead its staff.

Paul S. Reid and former Rep. Steve Bartlett were the two finalists for executive vice president of the trade group, according to Ron J. McCord, president of American Mortgage and Investment Co. and chairman of the search committee.

Mr. Reid is a former president of Richmond, Va.-based American Home Funding Inc. Mr. Bartlett is also a former mayor of Dallas.

Though MBA officials refused to say which man got the nod, sources were betting Wednesday on Mr. Reid, who was the trade group's elected president in 1996.

The job came open in June when Warren Lasko, who had held it for 12 years, said he would step down to head the trade group's international activities.

Like many mortgage company CEOs, Mr. Reid lost his job to consolidation. American Home Funding was a subsidiary of Rochester Community Savings Bank, which was sold to Charter One Financial, Cleveland, in October.

Mr. Reid was favored early on, but the trade group said it wanted to do a broad search with help from Korn Ferry, an executive search firm.

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