Chase Home Finance Names Rotella COO.EDISON, N.J.--(BUSINESS WIRE)--July 7, 1998--Stephen J. Rotella has been named Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Chase Home Finance, a new position. The Chase unit comprises mortgages, home equity and manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected . Chase is the nation's third largest originator and servicer of residential mortgages. Rotella, 45, is responsible for post-production, servicing, technology and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. . He reports to Tom Jacob, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Chase Home Finance. Chase originated $40 billion in residential mortgages in 1997 and has a servicing portfolio of $178 billion. Rotella joined Chase in 1987 and has managed a number of functions in Chase Home Finance during the last 11 years. During the last seven years he directed the strategy and growth of Chase's servicing business. He recently relocated to Chase Home Finance's Edison, N.J. headquarters from Chase's Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. servicing center. Rotella is a member of Freddie Mac's and Fannie Mae's servicer advisory board and serves on several Mortgage Banking Association committees.
CONTACT: The Chase Manhattan Corporation, New York
Ken Herz, 212/270-4621
http://www.chase.com
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