Prospect Mortgage Co. LLC of Chicago has named Richard Loeffler its chief operating officer, the executive search firm that recruited him said.
Mr. Loeffler was most recently the chief administrative officer of American Home Mortgage Investment Corp., which filed for bankruptcy protection this year.
He joined American Home, of Melville, N.Y., as the director of mergers and acquisitions in 2000 and during his tenure there oversaw the integration of 14 companies the lender acquired.
Prospect, which is owned by the Baltimore private-equity firm Sterling Partners, recently acquired Opteum Financial Services of Atlanta, Fidelity and Trust Mortgage of Bethesda, Md., and Metrocities Mortgage of Sherman Oaks, Calif.
The lender "has developed an aggressive expansion plan focused around strategic production-based acquisitions," according to Mortgage Search and Acquisition of Dallas, which announced the hiring Nov. 20.
Mr. Loeffler was also the chief operating officer of Roslyn National Mortgage, which American Home acquired. Earlier he was the director of capital markets at Long Island Savings Bank.
