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ResCap Names Chief of Mortgage Special Ops

ResCap Names Chief of Mortgage Special Ops

This is a discussion on ResCap Names Chief of Mortgage Special Ops within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Vella has been named senior vice president and managing director of the Mortgage Special Operations business of Residential Capital LLC, ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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08-11-2008, 08:14 PM

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ResCap Names Chief of Mortgage Special Ops

Vella has been named senior vice president and managing director of the Mortgage Special Operations business of Residential Capital LLC, a Minneapolis-based subsidiary of GMAC Financial Services.

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(Source: Google Blog Search)

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