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| Michael Youngblood |
Michael Youngblood, head of mortgage research at GMAC-RFC Securities, has resigned. Youngblood, a well-known veteran who worked out of GMAC-RFC's Bethesda, Md. office, was hired in 2002 to develop a mortgage research effort. Youngblood did not return calls to his mobile phone and it could not be determined if he is leaving the industry, starting his own firm or joining another dealer. The story was first reported last week on BW's Web site (www.bondweek.com). Youngblood, who earned his stripes in the commercial mortgage-backed securities market and is credited with developing the first CMBS index, previously was managing director and head of real estate research at Banc of America Securities in Charlotte, N.C. He also has a home in Charlotte. Youngblood began his career in the mid 1980s at the former Salomon Brothers, before joining Daiwa Securities and eventually the former Chase Securities.
Rod McGuinness, president of GMAC-RFC's dealer unit, did not return a call by press time.
