New Directors Bring More Than 45 Years of Combined Industry Experience to
GMAC-RFC
MINNEAPOLIS, Feb. 28 /PRNewswire/ -- GMAC-Residential Funding Corporation
(GMAC-RFC) announced today that Marty Richardson, Robert Villapando and
Colleen Morse have joined the company and will serve as marketing directors to
expand GMAC-RFC's subprime business in California and New York.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-a )
(Photo: http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-b )
(Photo: http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-c )
Richardson will serve Northern California and the Pacific Northwest, while
Villapando will serve Southern California and Nevada. Both will work in
GMAC-RFC's office in Laguna Niguel, Calif. Morse will serve the Northeast
region out of the GMAC-RFC office in New York.
Richardson, Villapando and Morse, who have more than 45 years of combined
mortgage finance experience, will work with mortgage bankers to secure all
GMAC-RFC's products. However, they will focus most of their efforts in the
subprime and high loan-to-value (HLTV) markets.
"We are pleased to add these veteran players to our marketing team," said
Pete Baynard, national sales and marketing manager for GMAC-RFC's
correspondent lending unit. "Marty, Robert and Colleen bring a wealth of
industry experience, and their addition to the team shows GMAC-RFC's
commitment to the subprime and HLTV business."
Richardson comes to GMAC-RFC from First Union Home Equity, Charlotte, N.C.
Prior to that, he worked for Access Financial, Minneapolis, Minn., and
Commerce Security Bank, Walnut Creek, Calif. He has spent more than 17 years
in mortgage finance, focusing mostly on subprime products.
Villapando comes to GMAC-RFC from Aames Financial Corp., Los Angeles,
Calif. Before joining Aames, Villapando worked for Portfolio Acceptance, a
division of Nations Bank, Dallas (now Bank of America), Texas and Imperial
Credit Industries, Irvine, Calif. He brings more than 20 years experience in
the subprime lending industry to his new position.
Morse comes to GMAC-RFC from ContiMortgage, where she covered the Midwest
territory. Prior to ContiMortgage, Morse worked for Bank of Boston. Morse
brings nine years of industry experience to her new position at GMAC-RFC.
GMAC-RFC, a wholly owned subsidiary of General Motors Acceptance
Corporation, is America's largest non-agency issuer of mortgage-backed
securities and a leading residential warehouse lender. The company leverages
its strengths in securitization, lending and investment to offer a broad
portfolio of innovative capital solutions. The company is headquartered in
Minneapolis and operates in the United States, Europe, and Latin America.
http://www.rfc.com
SOURCE GMAC-RFC
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Related links:
http://www.rfc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-a
http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-b
http://www.newscom.com/cgi-bin/prnh/20000228/MNM007-c
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/138832.html or fax,
800-758-5804, ext. 138832
CONTACT:
Jodi Ehlers Swanson of GMAC-RFC, 612-832-7343
, jehlers@rfc.com , or Randy Sands of Shandwick
International, 612-841-6191, rsands@shandwick.com , for GMAC-RFC
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