MBA study finds drop in servicing costs

John A. Vella named president, COO of AamesMortgagePress.comAames Investment Corporation,Vella Aames Investment Corporation has hired John A. Vella as president and chief operating officer. In his new role at Aames, Vella's primary focus will be achieving the company's growth objectives in its core sub-prime mortgage business. He will also have management responsibility for the company's sales organization, loan servicing and credit operation platforms. Vella most recently served as chief sales officer for Option One Mortgage, a national sub-prime lender, and brings to Aames more than 23 years of experience in the lending industry. Prior thereto, Vella served as chief administrative officer at Option One since 2002, where he managed, among other things, loan servicing and information technology departments. "We are excited to add John to our executive team and expect to benefit from his extensive knowledge and experience in mortgage and consumer lending," said A. Jay Meyerson, chairman of the board and chief executive officer of Aames. "John brings to Aames an in-depth understanding of the sales, operations and loan servicing aspects of our business." "Jay and his team have positioned Aames as one of the leading independent sub-prime mortgage real estate investment trusts," said Vella. "In my new position, I look forward to leading a new phase of expansion in its loan production and loan servicing capabilities, while continuing the company's record as a well-managed and disciplined mortgage lender." For more information, visit www.aames.com.