COLUMBIA, S.C. -Fleet Mortgage Group has reorganized its loan production operation.
The subsidiary of FleetBoston Financial said Tuesday that it has divided its production division into three sections, separating its third-party and retail loan production channels and moving its consumer-direct channel into its loan servicing division.
Thomas C. Palmer, former executive vice president of loan production, who oversaw all three channels, left the company "to pursue other opportunities," Fleet said in a statement.
The company said the move will streamline its production process and help Fleet Mortgage to retain customers.
James J. Jandrisevits, a senior vice president, was put in charge of the new third-party origination division, which buys loans from brokers and correspondents. Mr. Jandrisevits has overseen Fleet Mortgage's correspondent lending for the last 10 years.
John F. Frazza was promoted to senior vice president and put in charge of retail lending. Mr. Frazza had been regional manager for Fleet's retail mortgage sales in New England for 11 years.
Howard Ackerman, another senior vice president, heads Fleet's consumer direct lending business, which originates loans through telemarketing. Mr. Ackerman most recently led the deployment of Fleet's automated loan origination system in the retail division.
Mr. Jandrisevits and Mr. Frazza report directly to Michael J. Torke, president and chief operating officer of Fleet Mortgage. Mr. Ackerman reports to Robert A. Rosen, executive vice president of loan servicing.
