HanoverTrade.com Expands Into Servicing Rights Arena.(Brief Article)

HanoverTrade.com, a Web-based trading platform, has hired two industry veterans to lead its effort to expand into the management and trading of mortgage servicing rights.

HanoverTrade.com has named Gerard Risi and Thomas Healy as senior vice presidents who will be located in Fort Lauderdale, Fla. The company described both men as pioneers in the servicing brokerage and valuation industry.

Messrs. Risi and Healy will also provide capital markets solutions to help lenders sell Community Reinvestment Act loans, the company said.

Mr. Risi was most recently a managing director with Mortgage Marketing Services, where he was responsible for the management of all activities related to the purchase and sale of mortgage assets. Previously he had served as a senior vice president with CoreStates Capital Markets/Meridian Bank from 1990 to 1997.

While at CoreStates, he participated in over $50 billion of corporate mergers and acquisitions, servicing rights transactions, and loan portfolio sales and purchases.

Mr. Healy joins HanoverTrade.com from Countrywide Securities Corporation, where he served as senior vice president in charge of their CRA program. Mr. Healy also has served as a managing director of Bayview Financial Trading Group, and he too is a veteran of CoreStates Capital Markets, where he managed the servicing brokerage and valuation group. He is a Master Faculty Fellow of ...