GMH Mortgage Services LLC headquartered in Newtown Square, Pa. has announced the addition of Joseph Macchione as chief executive officer. Macchione will also continue his responsibilities as chief operating officer of GMH Associates, the parent company to GMH Capital Partners and GMH Ventures.
"Joe's ability to immediately analyze a situation, implement strategy, mobilize personnel and execute on a wide array of different topics make him the ideal CEO for GMH Mortgage," said Gary Holloway Sr., founder and president of GMH Associates. "Joe has been with GMH for more than a decade, and has intimate knowledge of each of our core businesses, the direction we want to take them, and our high standards and expectations. We expect that his leadership will allow us to strategically expand our retail origination platform while enhancing and improving our support systems for our branch managers and loan officers."
Macchione's extensive background brings a wealth of diverse business and management experience. For the past few years, Macchione has served as chief operating officer of GMH Associates Inc., and he served as executive vice president, general counsel and secretary of GMH Communities Trust from 2004 until June 2008, when it was merged into American Campus Communities Inc. Prior to that, Macchione served as general counsel for GMH Capital Partners LLC, formerly a joint venture between Gary Holloway and GE Capital Corporation, which focused on global corporate real estate services. Previously, Macchione was also a board member of American Campus Communities headquartered in Austin Texas. Macchione was an attorney with Morgan Lewis & Bockius, as well as Ballard Spahr Andrews & Ingersoll in Philadelphia, where his practice focused on commercial real estate joint ventures, acquisitions and disposition strategies, as well as zoning, land use and construction and environmental law.
"We already have a strong network of experienced and dedicated professionals in place at GMH Mortgage," said Macchione. "My goal is to immediately leverage that experience into new opportunities for us to expand our retail sales origination platform and enhance our line of product offerings which will ultimately benefit all of our customers. We have a very viable opportunity to transform GMH Mortgage from a regional, mid-market organization into a robust, national entity. With the large number of players exiting the mortgage origination space, given the strength of our balance sheet and the foundation we have built at GMH Mortgage, we believe we are well positioned for accretive growth."