Vericrest Names New Head of Default Servicing

DALLAS, Aug. 24, 2012 /PRNewswire/ -- Vericrest Financial, Inc., a premier financial services company specializing in the servicing of residential mortgages and consumer finance loans, today announced that David Slear has joined the company as Senior Vice President of Default Services.  In this role, Mr. Slear will focus on building and expanding Vericrest's home preservation programs while ensuring Vericrest continues to maintain the highest levels of compliance and service satisfaction in all areas of default servicing.

"David's extensive background in Default Operations makes him a great addition to the executive leadership team, and the ideal candidate for this critical role," said David Schneider, Chief Executive Officer of Vericrest. 

Mr. Slear brings extensive financial and leadership experience to the Vericrest team.  Prior to joining Vericrest, he served as an Officer in the U.S. Navy and spent nearly ten years in the Default Operations of Mortgage and Consumer Lending at HSBC.  Mr. Slear commented, "I am excited to be joining Vericrest and look forward to working with this talented team of professionals."

Mr. Schneider continued, "Vericrest leverages a customer-centric approach to servicing, where partnerships, superior service and the highest levels of quality are paramount.  Instead of using traditional collection tactics, Vericrest engages the customer in an ongoing dialogue to analyze the situation thoroughly and find the best solution.  Whether we are working with customers to retain their homes or helping them to move on from their current situations, we want them to have a positive experience; one that is respectful, fair and compliant."

David Schneider joined Vericrest in March 2012 to lead the Company's rapid growth.  Vericrest, which currently employs over 600 professionals in three states, plans to grow significantly as it expands its market share in the coming years.  Prior to joining Vericrest, Mr. Schneider was Head of Servicing and Default at JPMorgan Chase, where he played a lead role in the National Mortgage Settlement.  Before JPMorgan's acquisition of Washington Mutual in 2008, Mr. Schneider led WaMu's Home Loans Group.  Previously, Mr. Schneider served as President and Chief Operating Officer of CitiMortgage, where he engineered and implemented several successful initiatives focused on growth and operational efficiency.  Mr. Schneider has also held executive roles at Old Kent Financial, Stratmor Group and KPMG.

About Vericrest

Vericrest Financial, Inc., headquartered in Dallas, Texas, is a premier financial services company specializing in the servicing of residential mortgages and consumer finance loans in the United States.  Through three Centers of Excellence in Dallas, Oklahoma and California, Vericrest provides superior service and innovative solutions to meet the needs of our customers and investors while maintaining the highest levels of integrity and compliance.  To learn more about Vericrest, visit www.vericrestfinancial.com or call 1-800-401-6587. 

SOURCE Vericrest Financial, Inc.