GMAC Mortgage Corporation Names Michael Squillante Vice President of Customer Operations and Frank Madden as Director of Quality Assurance.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--Oct. 9, 2003 GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Mortgage Corporation has named Michael Squillante Vice President of Customer Operations and Frank Madden mad·den v. mad·dened, mad·den·ing, mad·dens v.tr. 1. To make angry; irritate. 2. To drive insane. v.intr. To become infuriated. as Director of Quality Assurance. Both appointments occurred in the company's fast-growing servicing operation, known as National Loan Administration. In his new position, Squillante assumes responsibility of the loan integration and escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. functions for GMAC Mortgage's servicing division. Madden will provide Quality Assurance oversight to the Managing Risk Division. Both men will be based at GMAC Mortgage's headquarters in Horsham, Pa. "As demand for GMAC Mortgage's servicing continues to grow, we seek to maintain excellence in all of our operations," said Tony Renzi, Executive Vice President and head of National Loan Administration. "Mike Squillante and Frank Madden are stepping into critical roles at GMAC Mortgage and will make strong contributions to our future growth. "Mike's experience in all aspects of customer operations, including the management of key partners, will be invaluable as GMAC continues to build its world-class servicing infrastructure aimed at servicing our own originated assets as well as our third-party sub-servicing clients," said Renzi. "Frank's appointment reflects the rapid growth our special servicing unit has enjoyed. He will help ensure that our growth in this sector is controlled and will minimize the operation risk to our Special Servicing and Default operations." Squillante brings more than 25 years of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. experience to his new position. Most recently, he was a Vice President at ING Direct ING Direct is a branchless direct bank with operations in Austria, Australia, Canada, France, Germany, Italy, Spain, United Kingdom and the United States. ING Direct is part of the ING Group. It offers services over the Internet, phone or by mail. , where he oversaw o·ver·saw v. Past tense of oversee. the start-up of ING's retail mortgage business. He has also held vice presidential positions at Provident prov·i·dent adj. 1. Providing for future needs or events. 2. Frugal; economical. [Middle English, from Latin pr Mutual Insurance, Advanta Corporation, and Chase Manhattan. Madden brings more than 25 years of financial services experience to his new position. Most recently, he was Senior Vice President of Loan Administration at Cenlar. He also served as Senior Vice President of Servicing at CoreStates Mortgage. This is a GMAC homecoming Homecoming Odyssey concerning Odysseus’s difficulties in getting home after war. [Gk. Myth.: Odyssey] You Can’t Go Home Again revisiting his home town, a writer is disillusioned by what he sees. [Am. Lit. for Madden, who earlier in his career held the positions of Vice President of Internal Audit, Senior Vice President of National 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. , and Senior Vice President of Servicing at the company. About GMAC Mortgage GMAC Mortgage Corporation, headquartered in Horsham, Pa., is among the nation's top ten residential mortgage servicers and originators. The company originates first- and second-lien residential mortgage loans through a nationwide network of retail offices, direct lending centers, correspondents and internet sites, under the brands gmacmortgage.com and ditech.com. GMAC Mortgage also offers custom mortgage services to GM employees and their family members, retirees and dealers, through the GM Family First program. As of December 2002, GMAC Mortgage originated $70 billion in residential mortgages, representing 553,994 transactions. The company's servicing portfolio of more than $198 billion represents 2 million customers throughout the nation. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion