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New franchise servicing team formed

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Betsy Vartainian, formerly of GMAC Commercial Mortgage, recently joined Greystone Servicing Corp. to spearhead the firm’s franchise loan servicing operation. Vartainian moved over with several of her seniors from GMAC (see ASR 12/3/01 and 12/17/01).

Vartainian and her team were part of Univest Asset Management, which was acquired by GMAC (via McCracken Financial Software) last year, and became the servicer on the Enterprise Mortgage Acceptance Co. securitizations when EMAC missed a servicing advance last April.

Also joining Greystone are Thomas Shaughnessy, Sharon Pollock, Gary Garner, and Debra Suppa, all formerly of GMAC, according to an announcement made by Greystone.

Meanwhile, GMAC has named Rick Rickard as Vartainian’s replacement. Rickard, also a Univest alumnus, has been appointed vice president in asset management in GMAC’s Atlanta office. A spokesman said that GMAC is currently in the process of replacing the rest of the team.

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