Clayton Adds Ex-Morgan Stanley's Wornow for Wall Street Roleby
Radian unit to expand services to hedge funds, private equity
Wornow previously worked with mortgages at Morgan Stanley
Radian Group Inc.’s Clayton Holdings hired Brian Wornow to be senior managing director of lending services as the mortgage-information unit seeks more business from Wall Street firms.
Wornow, who previously was co-head of Morgan Stanley’s residential mortgage whole loan trading business, will lead a new Clayton operation focused on loan services to clients including real estate investment trusts, private equity and hedge funds, the company said Monday in a statement.
“Brian’s deep knowledge of the mortgage and capital markets will help Clayton develop and enhance our customized origination, review and surveillance solutions for whole loan acquirers and their funding sources,” Jeff Tennyson, Clayton’s chief operating officer, said in the statement. “Brian is a strong addition to Clayton’s management team.”
Radian Chief Executive Officer S.A. Ibrahim has been bolstering Clayton since acquiring the business in 2014 to diversify operations beyond mortgage insurance. Clayton President Joe D’Urso last year agreed to buy Red Bell Real Estate LLC, the provider of mortgage valuation services. He also added ValuAmerica Inc., a national title agency and appraisal management company.
Wornow has also worked at UBS Securities, PricewaterhouseCoopers and the MortgageIT business under Deutsche Bank AG. He received a bachelor’s degree in economics from the State University of New York at Binghamton and a law degree from the University of Wisconsin at Madison.