Fleet Mortgage Group's selection of Gerald L. Baker as chairman and chief executive could be a strong indication that Fleet intends to be an aggressive competitor in the reshuffled mortgage business, industry observers say.

"We've always been very strong in secondary marketing and in servicing," said Michael R. Zucchini, vice chairman of Fleet Financial Group, Providence, R.I., which owns 81% of Fleet Mortgage. "Jerry has excellent retail strengths. He'll be a terrific addition for the originations side. We think he'll make a terrific allaround chairman."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.