909 Hidden Ridge Drive, Suite 200
Irving, Texas 75038
P.O. Box 141358
Irving, Texas 75014-1358
For More Information
Media Contacts: Michelle O’Brien
Debbie Krznarich
(212) 272-6659
(972) 868-4270
IMMEDIATE RELEASE
EMC Mortgage Corporation Hires
John Vella as President and COO
IRVING, TX – March 27, 2006 – EMC Mortgage Corporation today announced that John Vella is
joining the firm as President and Chief Operating Officer. Mr. Vella has spent over 20 years in the
mortgage industry. Additionally, EMC recently has added two new members to its Executive
Management Team – Robert N. Pruett and William Glasgow, Jr. Both gentlemen have over 30 years
of experience in the mortgage industry in various operational capacities.
Mr. Vella most recently was the President and Chief Operating Officer for Aames Investment
Corporation. Prior to that he was with Option One Mortgage Corporation where he acted as the Chief
Sales Officer and Chief Administrative Officer. Mr. Vella has also held senior positions at Household
International, GMAC/RFC, Freddie Mac, Fleet National Bank and FDIC/FSLIC.
Ralene Ruyle, Chairperson and Chief Executive Officer of EMC, said, “EMC’s story has been one of
significant growth. John, Bob and Bill have proven experience in operations and management and
are known throughout the mortgage industry as proven leaders. I look forward to having them join
our effort as we continue to strengthen our brand and expand our reach.”
EMC has experienced tremendous growth over the past few years. Since 2000 the unpaid principal
balance of the total servicing portfolio has grown from $4.2 billion to $63.8 billion and loan volume
has grown over sevenfold.
Commenting on these hires, Tom Marano, head of the Mortgage Department at Bear Stearns and an
EMC Board Member, said, “EMC is an important component to Bear Stearns’ mortgage franchise and
has clearly thrived over the past few years. We recognize the importance of these key additions