Two top mortgage company chief executives have resigned in the last three months, and one may be in line to replace the other.
Industry insiders say Mark Korell, who resigned in May as chief executive of the GMAC Mortgage unit of General Motors Corp., has been approached by Chemical Mortgage Co.'s executive search firm about filling the opening created when David Frank resigned this month.
Mr. Korell and a Chemical spokeswoman declined to comment.
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Citizens Mortgage Corp., Atlanta, has named John F. Karaszewski to the long vacant posts of president and chief operating officer.
The posts had been vacant since Robert Goethe departed last winter. Their duties were covered in the interim by Stephen D. Steinour, chairman and chief executive.
Mr. Karaszewski had been senior vice president and head of originations at PNC Mortgage Corp. He said he had not been looking for a new job but seized the opportunity to run a mortgage company.
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Ralph J. Hall was hired from GMAC Mortgage Corp. for the newly created posts of president and chief executive officer at GreenPoint Mortgage Corp., Charlotte, N.C. He had been chief operating officer at GMAC Mortgage.
Mr. Hall will report to Thomas S. Johnson, chairman and chief executive of GP Financial Corp., Brooklyn, N.Y., who had previously run the mortgage unit.
GreenPoint had been searching for a CEO since it entered the wholesale lending business with its acquisition of Barclays American Mortgage Corp. in July.
Before joining GMAC Mortgage, Mr. Hall had been president and CEO of GMAC Capital Corp. He also had worked at Citicorp Mortgage and Arthur Anderson & Co.