MReport April 2017

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 9 of 67

8 | TH E M R EP O RT TAKE 5 John Vella currently serves as Chief Revenue Officer of Altisource. Previously, he served as Chief Operating Officer of Equator, LLC. He began his financial services career with the FDIC and Freddie Mac and later served as Chief Sales Officer for H&R Block's mortgage company, Chief Executive Officer of Household International's Automotive Business, President and CEO of Bear Stearns EMC Mortgage Company, and as EVP of Special Servicing of GMAC/ RESCAP. He holds a Bachelor of Science in English from Springfield College. MReport spoke with Vella about his humble beginnings, how compliance and regulation will restructure servicing organizations, and what millennials should do to educate themselves about the mortgage industry. M // Before jumping into compliance, I have to ask, how did you get your start in the industry? VELLA // I played then coached football while living in downtown Boston in the early '80s and I received a call from a friend of a friend who said he had a job for me in Oklahoma City. Next thing you know, I'm heading to my first day of work at the FDIC where I assisted with the liquidation of Penn Square Bank. I was in charge of negotiating the debt that was owed on quarter horses and loans that were made to horse owners and traders throughout the country. At that point in time, I had never seen a horse in my life. From there, at a very young age, I went on to run bank closings across the country. It was an experience you couldn't get anywhere else. The Compliance Conundrum: Addressing the Unknown in Today's Regulatory Environment With compliance and regulation at the forefront of the housing market, servicers are preparing for what's to come in today's regulatory environment. As the industry expands and technology prevails, companies are bracing for industry changes and are preparing to welcome the next generation of homeowners.

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport April 2017