Karen Bausman Named President of GMH Mortgage Services

GMH Mortgage Services LLC of Newtown Square, Pa. has announced the addition of Karen Bausman as GMH president. Most recently, Bausman served as senior vice president of correspondent sales at Bank of America. "Karen has a proven track record of generating tremendous sales growth and production in each of her previous positions," said Joseph Macchione, chief executive officer of GMH Mortgage. "Her experience in building successful sales platforms, product expansion in both retail and internet-based originations along with her strategic recruiting efforts make her an ideal fit for GMH Mortgage. We are extremely excited about the direction of GMH Mortgage under Karen's leadership and guidance." As Bank of America's SVP of correspondent sales, Bausman increased mortgage product sales during each year of her tenure, while also increasing the client base. Bausman's constant evaluation and improvements of the sales process and operational workflows also created a tremendous upswing in market share growth from 17-45 percent for the company. Prior to Bank of America, Bausman was hired as SVP of correspondent sales for IMC Mortgage, to build correspondent volume for a limited partnership which was later purchased by CitiFinancial. While recruiting and developing a correspondent sales team of over 30, Bausman personally negotiated and secured relationships with more than 100 clients while raising volume each month. Bausman's sales division was integral in achieving the IPO target, and ending the year with increased volume levels month over month.