Michael Youngblood, a residential and commercial mortgage-backed securities veteran who headed real estate research at Banc of America Securities, left the firm last week. Reached at his home in Charlotte, N.C., Youngblood says he is evaluating several options, including launching his own firm or joining another, possibly as a sell-side analyst. Youngblood continues that he is going to take several weeks off and evaluate which of the two options seems more feasible. He was a managing director and reported to mortgage group head Pat Augustine.
Youngblood, who spent three years at B of A, has worked in the CMBS industry since its inception and is known for developing the first CMBS index. He also developed the first credit risk option-adjusted spread measure and helped put together the first multifamily conduit-style deal. He joined Salomon Brothers from academia in the mid-1980s and from there went to Daiwa Securities, where he was a part of Andy Stone's high-profile group in the early 1990s. He also headed CMBS research at Chase Securities before moving to B of A.
James Stouse, v.p., will assume responsibility for CMBS research at B of A. Stouse noted that there have not been any decisions made on whether B of A will expand the group but said that will be determined.