Items Tagged with 'Glen Messina'

ARTICLES

  • Ocwen completes $360 million acquisition of PHH, Glen Messina takes over as CEO

    Former PHH CEO assumes leadership of newly combined company
    PHH Corp. is now officially part of Ocwen Financial, as Ocwen’s $360 million acquisition of PHH is now complete, the companies announced Thursday morning. But those aren’t the only big changes for Ocwen and PHH. In conjunction with the deal’s closing, former PHH CEO Glen Messina has officially taken over as president and CEO of Ocwen.
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  • Ocwen dumps Fitch, names interim CEO

    Ending contract with ratings agency, also names replacement for departing CEO
    Over the years, Fitch Ratings has frequently commented about Ocwen Financial, issuing reports and ratings actions about the nonbank’s business dealings, trials and tribulations. Well, that’s about to come to an end. But that's not the only big news that Ocwen made on Monday.
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  • Ocwen CFO Michael Borque resigns

    Leaving to take a position at an undisclosed financial services company
    After 4 years, Ocwen Financial Chief Financial Officer Michael Borque is resigning to move on to an unnamed financial services company. Details are scarce, but Borque is Ocwen's second prominent executive to step down in less than two months.
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  • Ocwen CEO Ron Faris retiring, former PHH CEO Glen Messina set to take over

    Ocwen is set to buy Messina’s former company for $360 million
    Ocwen Financial shocked many in the financial services industry when it announced earlier this year that it plans to buy PHH for $360 million in cash. Now, the PHH relationship is about to get a little more complex, as Ocwen announced Thursday morning that it is naming former PHH CEO Glen Messina as its new CEO and president. Messina, who left PHH just over a year ago amid an executive shakeup, will replace Ron Faris as Ocwen president and CEO.
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  • Meet the new boss: Robert Crowl takes over at PHH

    Former chief operating officer replaces Glen Messina as president and CEO
    Three months ago, PHH unexpectedly announced that Glen Messina, the company’s president and CEO, would be stepping down this year after the company’s annual shareholder meeting. At the time, PHH said Robert Crowl, who previously served as the company’s executive vice president and chief operating officer, will be taking over for Messina. Now, it’s official.
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  • PHH shakes up senior leadership, CEO Glen Messina departing

    Chief Financial Officer Robert Crowl tabbed as replacement
    Over the last few years, it’s been a two-pronged battle for PHH Corp. On one side, the company is locked in a legal war with the Consumer Financial Protection Bureau. On the other side, PHH’s business has undergone dramatic shifts. One of the few constants during this time of transition has been the company’s CEO, Glen Messina. But that’s not the case anymore.
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  • Activist shareholder urges PHH to create a separate vehicle for MSRs

    The idea is to unlock hidden value, analysts say
    An activist investor says PHH Corp. can unlock hidden value by launching a restructuring effort that on its face seems to mirror Nationstar's corporate structure. The idea is to form a separate entity that can hold PHH's mortgage servicing rights. So far market analysts are impressed with the plan.
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