American Home Mortgage names Applegate CEO
Coppell, Texas-based American Home Mortgage Servicing, Inc. said Tuesday it had named David Applegate president and chief executive to replace the retiring David Friedman. Applegate had been managing a consulting business and previously served as president of GMAC Mortgage and chairman of GMAC Bank for much of the past decade. He was also president of mortgage insurer Radian Guaranty Inc. American Home Mortgage, which is based in Coppell, Texas, was acquired by WL Ross & Co. in 2008, and is currently the second-largest subprime mortgage servicer and 15th largest mortgage servicer in the nation. "Dave's depth and breadth of experience in the mortgage and banking industries and his commitment to customers are major assets that will further strengthen the management team after a period of strong growth in AHMSI's business," said Wilbur L. Ross Jr., CEO and chairman at WL Ross & Co. LLC. The company provides mortgage servicing to about 430,000 customers with nearly $83 billion of loans. Write to Jason Philyaw.