Cimino to Lead iServe as CEO

New York-Servicing firms are currently in a hiring mode, both old line and new-kid-on-the-block companies.

For one example, iServe Servicing, a wholly owned subsidiary of National Asset Direct Inc., cited over 33 years of industry experience and continuing growth as the reason behind naming Richard Cimino as CEO of the company.

"The firm is only two years old and already has made a name for itself as a risk-taking, flexible, exciting young firm," Mr. Cimino responded when asked about his decision to join the company.

He sees potential in iServe Servicing, even though his previous experience has been with much larger shops. It includes, most recently, five years as president of New Century Mortgage's servicing division, and prior to that, loan servicing manager, where he launched a full-service servicing platform that reached up to 240,000 loans for a total of $45 billion.

NAD president and CEO Jeffrey Kaplan says Mr. Cimino is "exactly the type of senior person we want at the helm guiding iServe" to ensure the servicer's growth through today's "difficult but potentially rewarding time."

NAD executives also expect the new CEO to draw on his industry relationships to further grow the business in new markets while effectively managing risk and communicating with clients, rating agencies, regulators and investors.

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