Mortgage servicer Altisource Portfolio Solution's executive team saw a new addition this week, with industry veteran John Vella stepping into the newly created role of chief revenue officer.
Vella has been in real estate for 30 years and has served in a number of leadership positions in that time, including president and CEO of EMC Mortgage Corporation (a subsidiary of JPMorgan Chase), CEO of Household Automotive, chief sales officer of Option One, and director at Freddie Mac and FDIC. He also currently serves in an executive role at Equator Business Solutions, a position he will continue to hold.
Vella's appointment comes at a time when Altisource is exploring ways to diversify its offerings after a down year for the company. In an investor presentation earlier this month, the company previewed some of its growth initiatives for 2015, including plans to expand its origination services and technologies and to expand its online real estate marketplace.
"John has decades of real estate and mortgage industry experience and a remarkable track record in sales leadership," said Altisource CEO William Shepro. "We are confident that in appointing John as chief revenue officer we are creating a means to institutionalize his experience and success that will drive our revenue growth strategy in this opportunistic time in the mortgage and real estate market."
Vella's top priorities include managing and expanding key client relationships for Altisource and growing the firm's origination servicing business through its Lenders One and Wholesale One cooperatives. He will also work to expand Altisource's default services business.
"Altisource has a world class set of products and services to help the mortgage and real estate industry meet its complex end to end needs," Vella said. "Along with our expertise working with the largest financial institutions in the country, Altisource can uniquely deliver the right mix of products and services that can help our customers improve their operations and focus on efficient, compliant growth."