Steve Abreu is the new president of GMAC's mortgage operations, working out of the company's Fort Washington, Pa., office.
His most recent position was president and chief executive of GreenPoint Mortgage Funding of California. (GreenPoint, a subsidiary of a bank, closed two years ago.)
Abreu is a 20-year veteran of the mortgage banking industry. He will report to Thomas Marano, chairman and CEO of GMAC's mortgage operations.
Marano recently assumed additional responsibilities as GMAC's chief capital markets officer, coordinating the firm's capital commitments, risk analytics and broker/dealers.
The hiring of Abreu will provide ongoing, strategic focus for the firm's mortgage operations, GMAC said. Abreu will be representing the company at the upcoming Mortgage Bankers Association convention in San Diego.