Before joining LPS, Caruso was the Servicing and Post Closing executive for the Consumer Real Estate and Insurance Services group at Bank of America, one of the world's leading financial services companies. In this role, Caruso oversaw Bank of America's mortgage servicing, home equity and non-real estate portfolios and was responsible for all servicing and post closing operations, including development of short-and long-term servicing strategy, customer retention and expanding client relationships.
Under Caruso's leadership, Bank of America's mortgage and home equity servicing was recognized with top ratings by external agencies such as Moody's Investors Service, JD Power and Associates, Fitch Ratings, Freddie Mac and the Federal Housing Administration.
"With more than 25 years of experience, Bob is one of the most well-respected leaders in the mortgage industry," said Eric Swenson, president of the Mortgage Information Services division and co-chief operating officer of LPS. "His depth and breadth of knowledge, his relationships with other industry leaders and his business acumen will be invaluable as we launch our new company. Bob will be instrumental in helping LPS meet its goal of providing solutions for every facet of the mortgage value chain, delivering superior service to our clients and helping them achieve greater efficiencies."
Prior to joining Bank of America in May of 2004, Caruso served as executive vice president of servicing operations at Wells Fargo Home Mortgage where he was responsible for servicing and post-closing operations supporting their mortgage servicing portfolio.