LEWISVILLE, Texas--(BUSINESS WIRE)--EMC Mortgage Corporation today announced that Peter Muriungi has been promoted to Senior Vice President, heading the Financial Analytics and Structured Transactions (F.A.S.T.) and Business Information teams at EMC Mortgage. Mr. Muriungi will play a senior role in managing all modeling, portfolio analytics, and management information systems for EMC Mortgage.
“Peter has been a very important member of the EMC Mortgage family for a long time, delivering information support to every division. His knowledge of our platform, combined with his analytical and leadership skills, will allow his team to continue to advance our Business Information platform,” said John Vella, President and Chief Executive Officer of EMC Mortgage. “Now that he is integrated with our F.A.S.T. group, Peter and his team will be able to provide additional state-of- the-art tools and capabilities to EMC Mortgage.”
EMC Mortgage is a subsidiary of Bear Stearns, which developed F.A.S.T. as the firm’s center of expertise for sophisticated analytics, technology, strategies and quantitative research in fixed income and derivatives.
Mr. Muriungi has been involved with the development and deployment of default risk models, deal performance analytics and other valuation models across the business as part of the F.A.S.T. and Business Information groups while at EMC Mortgage. He joined EMC Mortgage in 1999 as an analyst, primarily providing financial and default analytics. He was previously in charge of the Business Analysis and Design department within Default Operations.
Mr. Muriungi earned his Bachelor of Science in International Business from the United States International University in Nairobi, Kenya and his MBA from East Texas Baptist University.
EMC Mortgage Corporation, a wholly owned subsidiary of The Bear Stearns Companies Inc., is a mortgage banking company that specializes in the acquisition, servicing and disposition of residential mortgage loans headquartered in Lewisville, Texas within the Dallas-Fort Worth metroplex.