BankAmerica Corp. promoted Stephanie Smith, the national manager of community lending in its mortgage unit, to senior vice president.

Ms. Smith, 40, joined the old Bank of America in 1997 and helped to launch two mortgage programs aimed at low-income borrowers. BankAmerica merged with NationsBank last year.

One of the programs allows borrowers to buy a home with no money down; the other accepts people without credit scores who can prove their creditworthiness through nontraditional means. Ms. Smith reports to Fred Wark, director of corporate development in the mortgage unit. Previously, she worked for the Clinton administration in the Department of Housing and Urban Development.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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