Tom Neary has resigned as executive vice president and senior managing director of Residential Capital Corp. (ResCap), effective at the end of July.
Neary joined the nation’s seventh-largest residential originator a year ago and was brought in by ResCap chairman and CEO Tom Marano.
“He resigned for personal reasons,” a company spokeswoman confirmed to this newspaper. He is responsible for managing the business risk for ResCap’s mortgage servicing rights and oversees its pipeline hedging activities. ResCap is an affiliate of GMAC Financial Services.