Altisource Portfolio Solutions Hire Jon Gerrestsen As President Of Services

Altisource Portfolio Solutions

revealed that it hired Jon Gerresten as its President of Altisource Origination Services. Gerresten joins Altisource with more than two and half decades of mortgage and consumer banking experience, specializing in providing strategic execution of services, processes and products. Altisource said that Gerretsen was most recently the First SVP for the Mortgage Banking Division of New York Community Bank ("NYCB") responsible for residential mortgage operations for NYCB's retail, wholesale and correspondent production. Before joining NYCB, Gerretsen held senior leadership positions in mortgage banking and services for various organizations. That included KPMG, CitiMortgage, and AmTrust Bank. The company's Co-Leader of the AOS Business unit, Jason Garmise, said that "We are committed to providing industry-leading capabilities, cutting-edge technology and exceptional client service to our mortgage industry customers. Jon joins an already strong management team at AOS and comes to us with deep expertise in nearly all parts of the mortgage origination process. AOS has seen strong revenue growth over the past 12 months and Jon will help lead our business as we continue that strong growth and expand our reach into the broader mortgage industry." Altisource said that the Increasing regulation and changes in service level expectations were forcing mortgage market participants to proactively implement fresh technology and adopt best practices to stay competitive, manage risk and improve operational efficiency. On Monday, shares of the company traded 1.30% higher.