ResCap Names Chief of Mortgage Special Ops

John A. Vella has been named senior vice president and managing director of the Mortgage Special Operations business of Residential Capital LLC, a Minneapolis-based subsidiary of GMAC Financial Services. Mortgage Special Operations provides subservicing and asset management for high-risk loans in the United States, Canada, and the United Kingdom. ResCap said it is expanding the business to "align with a growing demand from hedge funds, investment bankers, and other institutional investors for mortgage servicing and loss mitigation of their loan portfolios." Mr. Vella, who will be based in California, has more than 24 years of experience in the mortgage industry, including senior management experience at Household Automotive, Option One Mortgage, Freddie Mac, and the Federal Deposit Insurance Corp. He was most recently president and chief executive officer of EMC Mortgage. ResCap can be found on the Web at https://www.rescapholdings.com.