Jeff Tennyson will serve as interim president of Clayton Holdings, Radian’s principal mortgage and real estate services subsidiary, effective immediately, the company announced.

photoClayton is based in Philadelphia and is a provider of loan due diligence, surveillance, REO management and consulting services to the mortgage industry.

The news follows the departure of Joe D'Urso, the company's former president, also effective immediately. D'Urso joined the company back in November 2013.

Tennyson(pictured left) joined the company in February 2015 as chief operating officer and brings more than 30 years of experience in the financial services industry to the position.

In his new role, Tennyson will be responsible for the overall operating results of the company's business lines.

He has also held positions as the chief operating officer of B2R Finance, chairman and CEO of Strategic Lending Group and chairman and CEO of EquiFirst Corporation.

"Clayton is a leader in its industries and has provided Radian with an excellent opportunity to grow and diversify," said Radian's CEO S.A. Ibrahim. "Given Jeff's deep knowledge of the business, strong customer relationships and support of our talented team, I have great confidence that he will help us continue to achieve our strategic objectives and realize even greater success."

3d rendering of a row of luxury townhouses along a street

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