Ohana Pacific picks Hong as CEO

James C. Hong has been selected president and chief executive officer of Ohana Pacific Bank, a small financial institution on Kapiolani Boulevard that caters to the Korean community and small businesses in Honolulu.

Hong has an background of 26 years in banking in South Korea and in the United States. He has extensive experience in credit, international and corporate lending.

“;I look forward to working with our bank directors, bank management and employees, and continue to build Ohana Pacific Bank to serve the financial needs of our growing Korean market in Hawaii,”; he said.

Wayne Miyao had served as interim president and CEO at Ohana Pacific, which opened on June 1, 2006.

Advertiser editor joins TV newsroom

Honolulu Advertiser Senior Vice President and Editor Mark Platte will join Hawaii News Now on May 10 and will succeed Chris Archer as its news director. Archer will leave at the end of the month to serve as a strategic consultant with a media consulting firm in Los Angeles.

This is Platte's first job in television after a newspaper career that includes stretches at the Atlanta Journal-Constitution, Miami Herald, Orange County Register and Los Angeles Times before joining the Advertiser in 2000. He was named editor four years ago.

Hawaii News Now is the merged news operation of KGMB-TV, KHNL-TV and KFVE-TV, and while Platte likes its news product, “;I hope I can improve it,”; he said.

“;I'm a hard-news guy, so I think I would look at some story selections a little differently and may try to go after some things with a little harder edge.”;

Fannie Mae tightens lending

WASHINGTON » Battered by a tidal wave of loan defaults, mortgage finance company Fannie Mae is tightening standards for the adjustable-rate and interest-only loans that fed the housing boom and contributed to the bust.

The company said yesterday it will require mortgage lenders to consider how high a borrower's mortgage payments might rise after teaser rates expire. Fannie Mae also will enact tighter standards for “;interest only”; loans that allow borrowers to avoid making principal payments for several years. To get those loans, borrowers taking out new mortgages must have a down payment of at least 30 percent and enough assets for two months of living expenses.

Fannie Mae's new rules, which go into effect in September, affect loans that adjust in five years or less.

On the move

» Retina Institute of Hawaii has appointed John Kojima as chief financial officer. He is also a certified professional accountant and director of Hawaii Chapter of Financial Executives International.

» Kahi Mohala Behavioral Health has announced two new members to its board of trustees:
—Keola Lloyd is vice president of shareholder relations/company secretary of the James Campbell Co. as well as grants manager of the James & Abigail Campbell Family Foundation.
—Tina Shelton is director of communications at John A. Burns School of Medicine, University of Hawaii.

» Jim Primm has joined Aloha Business Services as a partner with founder Jeff Turner. He has worked as a certified public accountant for 37 years, including owning an accounting practice in Arkansas and Colorado as well as having worked for the Internal Revenue Service.

» Blue Wave Technology has promoted Matt Grover to product manager. His experience includes working in information technology for 15 years in both software and service vendor and client environments.