Norwest Mortgage Inc. has hired Daniel Russell 2d as executive vice president for affordable housing.
Mr. Russell had been vice president of affordable housing initiatives and community development at Freddie Mac, formally the Federal Home Loan Mortgage Corp.
Earlier, he was director of market development and senior trainer at the Development Training Institute, which trains people for affordable housing development and other real estate-related projects.
In the newly created position, Mr. Russell will direct the development and operation of joint ventures such as Revelation Mortgage Company of America. Revelation is Norwest's partnership with five of the nation's largest African-American religious groups.
"With Dan's direction, we expect to be even more aggressive in expanding our affordable-housing initiatives, both nationally and locally," said Pete Wissinger, Norwest's managing director of retail operations.
Mr. Russell also founded a real estate development company and held real estate management posts with Hechinger Co. and Rouse Co.