PHH Mortgage Names Industry Veteran Andy Peach as Head of Correspondent Lending
29 March 2021 - 9:45PM
PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen
Financial Corporation (NYSE: OCN) and a leading non-bank mortgage
servicer and originator, today announced that Andy Peach has joined
the Company as Senior Vice President, Correspondent Lending.
In this role, Mr. Peach will be responsible for leading PHH’s
rapidly growing Correspondent Lending business and will report
directly to George Henley, Ocwen’s Chief Growth Officer. The
Company’s Correspondent Lending business has experienced
significant growth since its launch in 2019. In the fourth quarter
of 2020, the channel generated $2.6 billion in volume, a 34 percent
increase from the prior quarter. The channel had nearly tripled its
seller base at the end of 2020 as compared to the prior year and
continues to add new correspondent sellers.
Mr. Peach joins PHH from Mr. Cooper, where he was Senior Vice
President, Correspondent Sales. Over his 30-year career, he has
held a series of leadership positions at leading lenders, including
President and Chief Executive Officer at Waterstone Mortgage, and
Managing Director and Chief Production Officer at Pacific Union
Financial responsible for all sales and operations for the
company’s Correspondent, Wholesale, Retail and Consumer-Direct
channels. Earlier, Mr. Peach held senior positions at JP Morgan
Chase, Aurora Loan Services and Bank of America. He holds a
Bachelor of Science degree in Finance and Marketing from the
University of South Carolina.
“Andy’s extensive track record of successfully driving
profitable production while emphasizing exemplary customer service
makes him a great addition to our Originations team,” commented Mr.
Henley. “He has a wealth of experience and his hiring helps to
solidify our commitment to growing our Correspondent Lending
business, which is an important component of our overall growth
strategy.”
About Ocwen Financial Corporation
Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank
mortgage servicer and originator providing solutions through its
primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH
Mortgage is one of the largest servicers in the country, focused on
delivering a variety of servicing and lending programs. Liberty is
one of the nation’s largest reverse mortgage lenders dedicated to
education and providing loans that help customers meet their
personal and financial needs. We are headquartered in West Palm
Beach, Florida, with offices in the United States and the U.S.
Virgin Islands and operations in India and the Philippines, and
have been serving our customers since 1988. For additional
information, please visit our website (www.ocwen.com).
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements may be identified by a
reference to a future period or by the use of forward-looking
terminology, such as “believe”, “expect”, “may”, or “will”,
although not all forward-looking statements contain these words.
Forward-looking statements in this press release relate to the
Company’s plans and strategies to expand and strengthen our
originations business and operations, related business development
efforts, and the anticipated results of such plans and strategies.
In the past, actual results have differed from those suggested by
forward-looking statements and this may happen again.
Forward-looking statements involve a number of assumptions, risks
and uncertainties that could cause actual results to differ
materially, including the risks and uncertainties detailed in
Ocwen’s reports and filings with the SEC, including its annual
report on Form 10-K for the year ended December 31, 2020 and its
current and quarterly reports since such date. Anyone wishing to
understand Ocwen’s business should review our SEC filings. Our
forward-looking statements speak only as of the date they are made
and, we disclaim any obligation to update or revise forward-looking
statements whether as a result of new information, future events or
otherwise. Readers should bear these factors in mind when
considering such statements and should not place undue reliance on
such statements.
FOR FURTHER INFORMATION CONTACT:
Investors: |
Media: |
June Campbell |
Dico Akseraylian |
T: (856) 917-3190 |
T: (856) 917-0066 |
E:
shareholderrelations@ocwen.com |
E: mediarelations@ocwen.com |
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