Ellington Management Group, an investment and advisory firm based in Old Greenwich, Conn., has hired Steven M. Abreu, the former president of GMAC Mortgage, as head of mortgage originations.
Abreu will lead the firm's efforts to acquire one or more mortgage originators. It is anticipated that any such acquisitions will be made by Ellington Financial, and that post-acquisition, Abreu will oversee both agency and non-agency mortgage originations, including refinancings, purchase loans and retention of servicing rights, the company says.
Prior to joining Ellington, Abreu served as president of GMAC Mortgage from 2009 to 2013. During his tenure, GMAC was the fifth largest servicer and the fourth largest originator in the U.S. Prior to his work at GMAC, Abreu was CEO and president of GreenPoint Mortgage Funding Inc.
