DJSP Enterprises Inc., a provider of processing services for the mortgage and real estate industries, has announced that Richard D. Powers has accepted the position of president and chief operating officer of the company. In his new role, Powers will be responsible for the day-to-day operations of DJSP, improving and expanding existing business lines, and implementing the company's cyclical strategy to provide services to the mortgage industry for the life of the loan.
Powers adds more than 25 years of mortgage banking and financial services experience to the DJSP management team. Prior to joining DJSP, Powers served as the head of real estate services for Altisource Portfolio Solutions SA. In this capacity, he oversaw a variety of business units primarily focused on the default management space including an appraisal management company (AMC), a real estate brokerage unit, a field services company and the creation of a proprietary real estate-owned (REO) Internet auction platform.
"I am thrilled to join DJSP at this stage its growth," said Powers. "I look forward to leading DJSP in building operational excellence which will take us to the next level of achievement. Working closely with the existing management team we will build on DJSP's impressive current capabilities as we expand both the depth and breadth of our service offerings with an eye towards achieving best in class results in customer service and business efficiencies."
Powers previously served as general manager of Ditech and GMAC Mortgage Direct/GMAC ResCap, overseeing marketing, sales, finance, operations and strategic planning functions. Under Powers' leadership, Ditech enjoyed a rapid return to profitability, enhanced marketing efficiency and a complete revamping of the brand's image. In addition, in June of 2007 he also assumed responsibilities for GMAC Mortgage's direct lending unit in Cherry Hill, N.J. Prior to joining GMAC/ResCap, Rick worked at Metrocities Mortgage Corporation as president of the company's Western division, managing loan production and operations. He was also an executive member of its board of directors.
Prior to his role at Metrocities, Powers was president of KB Home Mortgage, where he managed the company's captive mortgage business, insurance and consumer direct subsidiary. Previously, he served as president and chief executive officer of Charter One Mortgage Corporation for seven years, helping establish it among the top 20 largest retail loan originators in the nation, and was senior vice president of Great Western Mortgage Corporation, responsible for production and operations in three regions.
"Rick is exactly the right leader for DJSP Enterprises," said David J. Stern, chairman and chief executive officer of DJSP Enterprises. "His extensive industry experience and vision complement our efforts in defining a leadership position 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. Rick brings the expertise needed to drive efficiency, scale our business for success and deliver value to both our customers and shareholders."
For more information, visit www.djspenterprises.com.