GMAC/ResCap Loses Another Top Manager
March 10, 2010
Bill Petersohn, director of bulk acquisitions and capital market sales for Residential Capital Corp., Horsham, Pa., has resigned from the mortgage banker to take a job with an analytics firm.
Petersohn is joining MCT Capital Trading, San Diego, as a regional director in charge of sales.
Prior to his departure he managed ResCap's '3-D' correspondent program which involves ResCap/GMAC acquiring the servicing rights on mortgages that eventually are sold to Fannie Mae.
Recently, according to sources familiar with the situation, ResCap eliminated smaller mortgage correspondents from the program. A ResCap spokeswoman said the 3-D program "has always been geared toward larger correspondents."
She said Petersohn "is not a senior or executive level manager" at the company and his departure is "unrelated to changes made within the 3-D program." She declined to specify what those changes were.
For more information on related topics, visit the following:
