ResCap Loss Mit Chief Jaberi Departs

Horsham, PA-Javid Jaberi, senior vice president of servicing operations for residential capital corp. Here, has left the company as part of a reorganization, according to an internal memo provided to this newspaper. An e-mail written by ResCap chief operating officer Tony Renzi says Mr. Jaberi "has made the decision to leave the company to pursue other interests."

No further information was provided. Mr. Renzi did not return a telephone call about the matter.

According to one executive at the company, who requested his name not be used, Mr. Jaberi had been running ResCap's loss mitigation and collections effort. The source said another servicing official, Ron Poindexter, also has left ResCap.

A spokeswoman for GMAC Financial, ResCap's parent, would not comment on Messrs. Jaberi and Poindexter, the latter of which held the title vice president of asset resolution.

The only comment she offered was that three weeks ago the company, "realigned the reporting structure of our servicing operations to further enhance performance in the servicing of conforming and non-conforming (higher-touch) portfolios."

She noted that the company is still hiring, though, in such areas as loss mitigation, collections and asset resolutions.

The Renzi memo notes that ResCap executive John Vella "will expand the scope" of ResCap's business operations "to include our non-conforming and special servicing portfolios including responsibilities for all REO functions."

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