PHH Corp. (PHH) Appoints Selitto as CEO

October 26, 2009 4:45 PM EDT

PHH Corporation (NYSE: PHH) today announced that Jerome J. Selitto has been named President and Chief Executive Officer and appointed to the Board of Directors, effective immediately. George Kilroy, who in June had stepped in on an interim basis as Acting President and CEO of PHH, will continue to lead the company's fleet management business and serve as a member of the company's Board of Directors.

Mr. Selitto brings to PHH nearly forty years of experience in the mortgage industry and in capital markets, as well as a long and successful track record of building companies that have created value by transforming key sectors of the home lending market. Mr. Selitto served most recently as a senior consultant and then member of the senior management team of mortgage industry software provider Ellie Mae and, before that, as Chief Executive Officer of DeepGreen Financial, the groundbreaking online home equity lender that he helped found. Earlier, he launched and helped lead mortgage insurance company Amerin Guaranty Corporation (now Radian Guaranty) and held senior leadership positions at First Chicago Corporation, PaineWebber and Kidder, Peabody & Co.

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