Bank America Corp. recently promoted its top mortgage portfolio and
In an interview last week, Mr. Lund said he saw his December promotion
Before joining BankAmerica in 1992, Mr. Lund was director of mortgage-
A native of Denmark who once taught philology-the study of language as
How has the management of mortgage portfolios changed?
LUND: I think it's becoming a lot more important. Many banks tend to
I implemented a "loan level profitability analysis" system so we
We go back five, six, or seven years, (and) we compute the actual value
And you feed these results back into the origination side?
LUND: Absolutely. That's exactly what we've been doing. We realized that
Then we've taken defensive steps, like changing our loan programs,
What are profitable loans for you?
LUND: I'll give you a very general answer. Profitable loans are those
How did you switch from philology to business?
LUND: Philology is a better hobby than a profession. I tend to read old
Do you like to garden?
LUND: I go dog-sledding. The last two years I've been going to the very
You usually have 15 to 18 dogs. Very weird dogs. They're very fierce.
People always say 'What if the weather gets bad?' Well, you stop the dog