He is described as the “perfect fit for TMS and its culture”
Former Impac Mortgage Holdings chief Tom Donatacci (pictured) is taking on the new role of executive vice president of business development at mortgage subservicer The Money Source.
Effective immediately, Donatacci will head the company’s business development efforts. He brings more than 35 years of expertise in business development, MSR trading and mortgage banking mergers and acquisitions.
Before joining TMS, Donatacci served as chief of staff at Impac. He has also held senior leadership positions at Selene Finance, Clayton Holdings, GMAC Rescap, Lehman Brothers, and PaineWebber.
“From the moment we started to engage with Tom, it was apparent that he would be a perfect fit for TMS and its culture,” said TMS president Ali Vafai. “That is a necessity for us. But along with being a great fit with our culture and core values, Tom’s extensive experience and skill set 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 service for our customers.”
“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,” said Stavros Papastavrou, founder and chairman of TMS.
“I joined TMS because their servicing performance is extraordinary,” Donatacci said. “Their clients are able to observe the servicing of their loans in real-time as our team members service them with no filter or delay, and their unique culture fosters a sense of teamwork with borrowers that drive customer satisfaction levels not seen in the mortgage industry historically. I am looking forward to raising the bar in the industry and to be working with Stavros and his team.”