It is an expectation every MSR owner should be entitled to and deserves. "The market needs higher quality servicing options that not only provide quality servicing on performing loans at reasonable economics, but that can also deliver strong performance on delinquent loans while maintaining high customer satisfaction levels. "The challenges facing servicers has never been greater as the velocity of the business has accelerated due to record origination and refinance activity as well an ongoing wave of regulatory mandates," said Donatacci. But along being a great fit with our culture and core values, Tom's extensive experience and skillset, will help further accelerate our rapid growth in subservicing over the past four years while allowing us to strengthen our partnerships with our existing clients and continue to deliver rock solid servicer for our customers." From the moment we started to engage with Tom, it was apparent that he would be a perfect fit for TMS and its culture. “So, it was important that when we bring someone aboard that they align with those values. "TMS is a core values driven organization, first and foremost,” said TMS President Ali Vafai. He has also worked at Selene Finance LP, Clayton Holdings, GMAC Rescap, Lehman Brothers and PaineWebber. where he was the Chief of Staff for four years. "Our top priority is to continue to build on the growth of our subservicing business leveraging technology that raises the bar in the industry for transparency and servicer accountability and to deliver exceptional performance for our clients,” said Stavros Papastavrou, the founder and Chairman of TMS. “As a recognized and trusted leader in the mortgage finance industry with an extensive track record for achieving growth in mortgage servicing and related businesses, Tom will play an important role in helping us achieve our goals, not just in growth but maintaining the highest levels of client satisfaction."ĭonatacci comes to TMS from Impac Mortgage Holdings Inc. U.S.The Money Source Inc (TMS), a New York-based fintech and mortgage company, has hired Tom Donatacci as its new EVP of Business Development. As EVP, Donatacci will utilize his 35 years of experience in the mortgage industry to help further TMS’s expansion into the subservicing market.
They are represented by Lauren Goldberg of Law Offices of Lauren Goldberg PLLC in New York.
The money source trial#
The plaintiffs request a trial by jury and seek judgment against defendants for all economic and punitive damages, costs of action, and other relief as the court may deem just. responsible because the defendant allegedly made false representations of material facts to which the plaintiffs relied on to their detriment, induced plaintiffs to leave their stable and profitable employment, failed to pay commissions that were owed to plaintiffs, and terminated plaintiffs' employment based on their refusal to participate in unlawful practices. The plaintiffs hold The Money Source Inc. They allege they were later terminated for complaining about the violations. "Once plaintiffs began working for defendant, they not only realized that they were lied to about material facts, but they became aware that The Money Source was violating various rules and regulations from the Consumer Financial Protection Bureau," the complaint states. alleging fraudulent inducement, breach of contract and other counts.Īccording to the complaint, the plaintiffs allege that in 2016, they were "lured" by the defendant to quit their jobs to work for it with false misrepresentation. District Court for the Eastern District of New York against The Money Source Inc. Richard Hernandez, Steve Hernandez and Maria Keegan filed a complaint on Nov. NEW YORK (Legal Newsline) – Three New York residents allege that a Melville, New York mortgage lending business made false representations in order to recruit them.
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