New President at WaMu

David C. Schneider to fill post in August
By MortgageDaily.com staff
6/30/2005

Washington Mutual Inc. has a new chief for its mortgage operations.

The Seattle, Wash.-based behemoth announced today David C. Schneider will become president of its residential mortgage division on Aug. 8.

In his new post, Schneider will oversee all aspects of home lending, including production and servicing, according to the announcement. He will report to WaMu's chief operating officer, Steve Rotella, who has served as interim chief of the unit since March.

Schneider was previously the president of CitiMortgage Inc., which he joined in 2001, the announcement said, and previously held executives positions at Old Kent Financial Corp. and Stratmor Group. He is reportedly a licensed CPA with a Master's degree from Indiana University.

"David Schneider has a proven track record of success in leading and growing a national home lending business, as well as solid experience with cross selling home loans across a retail banking network and other distribution channels," Rotella said in the statement.

Schneider will become the fifth executive to head the unit since late 2003.

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