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GMAC Names Cerberus Exec to Head ‘Fee Based’ Servicing Unit

Published June 8, 2009 1:36 PM EDT Updated June 8, 2009 1:38 PM EDT 1 Min Read

GMAC Financial Services has named Jeff Lemieux, a hedge fund executive, senior vice president of fee based servicing.

Mr. Lemieux comes to GMAC’s mortgage division, Residential Capital Corp., from Cerberus Capital Management, where he oversaw the hedge fund’s investment in mortgage and consumer assets. (Cerberus owns part of GMAC.)

At ResCap he replaces Tom Donatacci who left a few months ago to work for Clayton Holdings, a due diligence and outsourcing firm. Mr. Lemieux will report to GMAC Mortgage president/ResCap chief operating officer Tony Renzi. He will be based in the firm’s Carlsbad, Calif. office.

GMAC’s fee based servicing unit provides subservicing, private label and other services to third-parties. During Mr. Lemieux’s career he also has worked at New Century Financial Corp., Irvine, Calif., a now defunct subprime lender/servicer.

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