Levine Announces Retirement; Filiberto and Haas Appointed as Co-Chief Operating Officers at Opteum Financial Services, LLC
January 09 2007 - 10:00AM
Business Wire
Opteum Inc. (NYSE:OPX) (�Opteum� or the �Company�), a real estate
investment trust (�REIT�) that operates an integrated
mortgage-related securities investment portfolio and mortgage
origination platform, today announced that Martin J. Levine,
Co-Founder, Executive Vice President and Chief Operations Officer
of the Company�s wholly owned subsidiary, Opteum Financial
Services, LLC (�OFS�), will be retiring effective March 31, 2007.
The Company also today announced the appointment of Robert
Filiberto and G. Hunter Haas IV as Co-Chief Operating Officers of
OFS effective immediately. Mr. Levine will continue in his role as
Executive Vice President pending his retirement and will work
closely with Mr. Filiberto and Mr. Haas until then to ensure a
seamless transition of his responsibilities. Mr. Levine, who
co-founded OFS with Peter R. Norden in 1999, launched First
Builders Financial Corporation in 1987 and served as its President
until it merged with Olde Town Mortgage in 1989 to form First Town
Mortgage Corporation. He then served as Executive Vice President
and Chief Operations Officer of First Town until its purchase in
1999 by Chase Manhattan Mortgage Corporation. A Certified Public
Accountant, Mr. Levine commenced his career at Touche Ross and
Company and later spent time at Coopers and Lybrand, Kenneth
Leventhal and Company and Pan American Properties. A New Jersey
resident, Levine is a graduate of New York University, having
earned a bachelor�s degree in accounting. He is also a member of
numerous professional and community organizations. Commenting on
Mr. Levine�s retirement, Jeffrey J. Zimmer, Chairman, President and
Chief Executive Officer of Opteum, stated, �Marty has been a
tremendous resource for OFS since its initial founding. Drawing
upon his twenty-plus years of operating experience, Marty has been
instrumental in facilitating OFS� transition from a privately held
enterprise to a subsidiary of a publicly traded corporation. We are
grateful for all of his contributions and, on behalf of all of
Opteum�s associates, we wish him a long, healthy and prosperous
retirement.� Robert Filiberto, currently Senior Vice President and
Chief Servicing and Technology Officer at OFS, joined OFS in August
2000 as Vice President of Loan Administration. In his new role as
Co-Chief Operating Officer, Filiberto will report to Peter Norden
and will have primary accountability for Servicing, Information
Technology and Post-Closing functions. G. Hunter Haas IV, currently
Senior Vice President & Head of Mortgage Research at Opteum,
will assume the additional role of Co-Chief Operating Officer of
OFS and will have primary accountability for OFS� Secondary
Marketing and Quality Control functions. About Opteum Opteum Inc.
is a REIT, which operates an integrated mortgage-related investment
portfolio and mortgage origination platform. The REIT invests
primarily in, but is not limited to, residential mortgage-related
securities issued by the Federal National Mortgage Association
(Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie
Mac) and the Government National Mortgage Association (Ginnie Mae).
It attempts to earn returns on the spread between the yield on its
assets and its costs, including the interest expense on the funds
it borrows. Opteum's mortgage origination platform, Opteum
Financial Services, LLC, originates, buys, sells, and services
residential mortgages from offices throughout the United States and
operates as a taxable REIT subsidiary. Statements herein relating
to matters that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. The reader is cautioned that such forward-looking
statements are based on information available at the time and on
management's good faith belief with respect to future events, and
are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
such forward-looking statements. Important factors that could cause
such differences are described in Opteum Inc.'s filings with the
Securities and Exchange Commission, including Opteum Inc.'s most
recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q.
Opteum Inc. assumes no obligation to update forward-looking
statements to reflect subsequent results, changes in assumptions or
changes in other factors affecting forward-looking statements.
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