Bill Petersohn, director of bulk acquisitions and capital market sales for Residential Capital Corp., Horsham, Pa., has resigned from the mortgage banker to take a job with an analytics firm.
Petersohn is joining MCT Capital Trading, San Diego, as a regional director in charge of sales.
Prior to his departure he managed ResCap’s ‘3-D’ correspondent program which involves ResCap/GMAC acquiring the servicing rights on mortgages that eventually are sold to Fannie Mae.
Recently, according to sources familiar with the situation, ResCap eliminated smaller mortgage correspondents from the program. A ResCap spokeswoman said the 3-D program “has always been geared toward larger correspondents.”
She said Petersohn “is not a senior or executive level manager” at the company and his departure is “unrelated to changes made within the 3-D program.” She declined to specify what those changes were.