Equator, a provider of automated default servicing, real estate-owned (REO) and short sale technology for the mortgage industry, announced that it has hired John Vella to serve as its chief operating officer. Vella’s primary duties at Equator include implementing the company’s growth strategy, and leading efforts to further expand the scope of the company’s EQ Workstation, a fully-automated online system that provides financial institutions with tools for managing default servicing, and the EQ Marketplace, which acts as an e-commerce forum where these institutions connect with asset management vendors and real estate agents.
Vella has more than 27 years in the mortgage industry. Previously, he worked as executive vice president of GMAC/Rescap, which is responsible for special servicing; president and chief executive officer of EMC Mortgage, a subsidiary of JPMorgan Chase; chief executive officer of Household Automotive; chief administrative officer of Option One Mortgage and director at Freddie Mac and the the Federal Deposit Insurance Corporation (FDIC).
“We are very excited to bring John Vella on board because his values and drive are a good match for our company,” said Chris Saitta, chief executive officer at Equator. “His servicing industry experience and leadership will support many of our growth initiatives.”
For more information, visit www.equator.com.