DJSP Enterprises Inc. hires Former GMAC Executive Richard D. Powers

DJSP Enterprises Inc. hires Former GMAC Executive Richard D. Powers

DJSP Enterprises Inc. hires Former GMAC Executive Richard D. Powers

By DinSFLA 7/12/2010

DJSP Enterprises Inc. (DJSP) appointed mortgage-industry veteran Richard D. Powers as president and chief operating officer, overseeing day-to-day operations of the Florida-based provider of mortgage and real-estate processing services.

Chairman and Chief Executive David J. Stern said Powers’ extensive industry experience complements DJSP’s efforts to be a leader in the “default-services sector and beyond.”

“His strong management experience will help shape DJSP as we continue to establish ourselves as a provider of services to the mortgage industry for the life of the loan,” said Stern, who had held the president’s post.

Mr. Powers most recently was head of real-estate services at Altisource Portfolio Solutions SA (ASPS). Previously he was an executive in the mortgage operations of GMAC LLC, which has dealt with billions of dollars of losses the past several years, and was president at KB Home’s (KBH) mortgage unit.

DJSP Enterprises Inc. has recently caught the attention of several high profile law firms.

On June 14, 2010 the class action law firm of Statman, Harris & Eyrich, LLC announced it was investigating DJSP Enterprises, Inc. (“DJSP” or the “Company”) (DJSP 6.29, +0.04, +0.64%) for potential violations of state and federal securities laws. The affected stock was purchased between March 11, 2010 and May 27, 2010.

Then on June 28, 2010 Kaplan Fox & Kilsheimer LLP ( announced it has been investigating DJSP Enterprises (“DSJP” or the “Company”) (Symbol: DJSP) for potential violations of the federal securities laws.  Investors who purchased Company securities since April 1, 2010 may be affected.

These investigations are still pending.

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