Two Harbors Investment Corp. (NYSE: TWO; NYSE Amex: TWO.WS) announced today that it has added Diane Wold to its senior management team as a Managing Director. Two Harbors also announced today that it is launching a loan securitization program aiming to capitalize on opportunities in the private jumbo loan market.
Ms. Wold was previously a Senior Vice President & Managing Director at GMAC Residential Capital Corporation (GMAC ResCap), where she led the company’s U.S. residential mortgage loan securitization program in her 16-year career at GMAC ResCap. During her time at GMAC ResCap, Ms. Wold oversaw the securitization of approximately $400 billion of residential mortgage loans, with a majority of the issuance being backed by prime jumbo loans. At various points in her career, Ms. Wold was responsible for managing all aspects of the securitization program, including ongoing bond reporting and investor relations functions.
Ms. Wold is a Certified Public Accountant and has a Masters of Business Taxation from the University of Minnesota and a Bachelors of Business Administration from the University of Iowa. Ms. Wold is also a founding member and currently on the Advisory Board of the American Securitization Forum.
“We are thrilled to have someone of Diane’s background and caliber join the Two Harbors team,” said Thomas Siering, Two Harbors’ President and Chief Executive Officer. “Her experience aids in the efficient integration of the loan securitization program into our business model. It also allows for further initiatives.”“I am very excited to join Two Harbors at a time that presents great opportunities for building a strong loan securitization platform,” said Ms. Wold. “The private mortgage securitization market is beginning to re-open and we believe there will be increasing demand for mortgage investment products that are well designed, backed by high quality collateral, and transparent in their disclosures. Our initial focus will be on jumbo loan securitizations, where we believe there is a significant opportunity.”
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