GMAC Rehires Industry Vet

GMAC Mortgage Corp., Horsham, Pa., has announced that industry veteran Tom Donatacci has returned to the company as senior vice president in its Business Development Group.GMAC Mortgage said Mr. Donatacci will be responsible for all third-party subservicing sales and marketing. In his previous stint with GMAC Mortgage in the late 1990s, Mr. Donatacci was an executive in the company's capital markets operation and helped build its servicing portfolio, the company said. In addition, he was involved in high-profile deals such as the acquisition of the mortgage servicing operations of Wells Fargo Bank. He was most recently the head of the mortgage servicing transactions business at Lehman Brothers/Cohane Rafferty, where "he worked on headline-making industry deals, including the sale of GE Mortgage, Fleet Mortgage, Homeside Lending, and Principal Residential Mortgage," GMAC Mortgage said.