NewOak Capital has announced the appointment of Jay Lown as managing director and senior member of its financial institutions group.

According to the New York-based firm, Lown be responsible for coordinating all activities involving government-related mortgage lending programs through Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). Lown will also be tasked with developing mortgage advisory solutions and will play a role in NewOak Capital’s bank advisory and recapitalization businesses.

“After nearly three years of non-stop surprise and chaos in the residential mortgage credit, neither the private sector nor the government has yet figured out the magic solution,” said Ron D’Vari, CEO and co-founder of NewOak Capital.

“We are glad to have Jay joining our team of financial industry leaders at NewOak Capital, focusing on developing practical solutions for the banks and financial institutions and partnering with government to achieve socially equitable balance and speed.”

James Frischling, the company’s president and co-founder, added, “Jay’s experience and success in both the public and private space will bring NewOak Capital a unique perspective which will be of great value to our clients. He has a great understanding of all aspects of the mortgage market, as well as the regulatory environment facing the banking industry.”

Prior to joining NewOak Capital, Lown was a fellow at the Office of Thrift Supervision (OTS). At OTS he served as an advisor to the senior deputy director’s office focused on mortgage origination and securitization. Noteworthy assignments included participating in the creation of the Obama administration’s Home Affordable Modification Program, the review of Troubled Asset Relief Program (TARP) Capital Purchase Program applications for OTS thrifts, and working with the acting deputy director of examinations, supervision, and consumer protection and regional staff on troubled institutions.

Before the OTS, Lown spent six years at UBS in mortgage trading. Initially hired to build out a subprime mortgage whole loan trading desk, he grew the group into a team of 15 professionals which executed over 20 billion in securitizations. He also managed an internal mortgage origination platform specializing in Alt-A mortgages, overseeing all units within the organization including sales, capital markets, and operations.

Lown began his career at Salomon Brothers, where he spent 11 years working on the mortgage trading desk, the last six years in the mortgage finance group covering subprime mortgage companies.