A new president has been hired to oversee mortgage operations at GMAC Financial Services.
Steven M. Abreu was hired as president of GMAC Mortgage Operations on Oct. 1, a GMAC spokeswoman said in a statement to MortgageDaily.com.
In his new position, Abreu will direct the strategic transition of the mortgage business and maintain oversight of servicing activities and origination channels from Fort Washington, Penn.
The new executive has a 20-year mortgage lending career.
Most recently, Abreu reportedly served as the president and chief executive officer of Capital One Financial Corp. subsidiary GreenPoint Mortgage Funding Inc. — which was closed down in August 2007. His prior employers also include Headlands Mortgage Co. and Donaldson, Lufkin and Jenrette.
He graduated from the University of San Francisco with a bachelor’s degree in finance, the statement said.
Abreu reports to Thomas Marano, who is chairman and CEO of GMAC Mortgage Operations. Marano also recently assumed additional responsibilities as GMAC chief capital markets officer. In that position, he coordinates GMAC’s capital commitments, risk analytics and broker dealer.
