Top WaMu execs in mortgage biz again, key roles at growing Vericrest Financial

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Top WaMu execs in mortgage biz again, key roles at growing Vericrest Financial

Top WaMu execs in mortgage biz again, key roles at growing Vericrest Financial

WOW…oh WOW!

Another WaMU in the making?

Seattle Times-

Top execs from the Failed [& Fraudulent] Washington Mutual have taken on key roles at growing Vericrest Financial of Texas; also, Starbucks chairman Howard Schultz stars in a comic-book biography.

From the “If at First You Don’t Succeed” Department: David Schneider, who headed Washington Mutual’s home-loans unit during the peak of the mortgage bubble, was running another sizable mortgage company until this past Friday.

Though Schneider is now out, several other WaMu veterans, including former chief operating officer Stephen Rotella, are still involved with the company, Vericrest Financial of Irving, Texas.

Vericrest, wholly owned by private equity firm Lone Star, specializes in servicing subprime mortgages and delinquent or otherwise troubled loans, of the sort that WaMu became notorious for peddling. It services some 55,600 mortgages with total outstanding principal balances of $10.1 billion.

[THE SEATTLE TIMES]

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One Response to “Top WaMu execs in mortgage biz again, key roles at growing Vericrest Financial”

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  1. […] You might also be interested to know that Former JPM, WaMu Executive Steve Rotella Named to Advisory Board at Vericrest as well. […]


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