Advertisement

Californian Nominated to Head FADA

January 25, 1986|TOM FURLONG | Times Staff Writer

California real estate executive Roslyn Payne has been nominated to be chief executive of the Federal Asset Disposition Assn., a quasi-government company formed to liquidate assets of troubled savings and loan associations.

The nomination by the FADA board of directors is pending before the Federal Home Loan Bank Board. Although the choice has not been announced, her nomination was confirmed by several S&L industry sources.

A spokeswoman for the bank board declined to comment.

Payne, an official in the San Francisco office of Genstar Corp., was not available for comment. Genstar is a large Canadian concern that has operations in real estate development, construction and financial services.

"She's first-rate, a real 10-strike." said Anthony Frank, chairman of First Nationwide Financial Corp., a savings and loan company based in San Francisco. Payne reportedly was chosen for the job from more than 100 applicants.

Her nomination ends a search by the FADA board that began last November when the agency was formed. The agency, known colloquially as the 406 Corp., was formed to sell off about $3 billion in assets at S&Ls that have been taken over by the Federal Savings and Loan Insurance Corp.

The 406 Corp. will be based in Denver and operate as a government-controlled savings and loan association.

Advertisement
Los Angeles Times Articles
|
|
|