BofA names new short sale, REO exec

Vernon vows to 'improve processes and efficiencies'

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Bank of America has put a 15-year veteran, who rose through the ranks to become a high-ranking executive in mortgage originations, in charge of streamlining the bank’s short sales and disposition of bank-owned (REO) properties.

Matt Vernon has "demonstrated tremendous acumen in strategic planning, performance, customer focus and other areas that will serve him well in his new position" as short sale and REO executive for Bank of America Home Loans, the company said.