Industry veteran Tom Donatacci, senior vice president of business development and subservicing for Residential Capital Corp. (ResCap), Horsham, Pa., has left the company.
At press time, Donatacci could not be reached for comment. A spokeswoman confirmed that he had left ResCap, noting that his separation was "absolutely voluntary."
ResCap added that, "We are aggressively conducting an internal and external search to fill the head of fee-based servicing position. This leadership role is critical to our ongoing commitment to growing volumes in our subservicing business."
Among his duties Donatacci was involved in overseeing ResCap's subservicing business. A former executive at both Lehman Brothers and Cohane Rafferty Securities, he left the lender/servicer about 10 days ago. Cerberus Capital, which is a hedge fund, and General Motors own ResCap.