Will Lead Sales Efforts Focused on Growing the Company’s Subservicing Portfolio
MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Jul. 13, 2017-- PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today announced that Christopher Sabbe has joined the Company as Vice President, Business Development. Sabbe will report to Steve Staid, Senior Vice President, Servicing.
In this role, Sabbe will be responsible for overseeing the Company’s sales strategy as PHH further expands into the mortgage subservicing market segment. Sabbe will lead a dedicated sales team to implement business development strategies to drive new client signings and portfolio units in support of the Company’s subservicing revenue growth objectives. As of March 31, 2017, the pro forma subservicing unit count, assuming the completion in entirety of its previously announced sale of mortgage servicing rights to New Residential Investment Corp, is approximately 720,000 units. PHH is one of the largest mortgage subservicers based on unpaid principal balance as of the first quarter of 2017, according to Inside Mortgage Finance.
Steve Staid, Senior Vice President, Servicing, said, “We are very excited to have someone of Chris’ caliber join the PHH team. He is a seasoned sales executive with an impressive track record of building a sales pipeline and closing deals in the subservicing market segment. The addition of Chris is a critical step in our strategic plan focused on growing subservicing and portfolio retention services.”
Sabbe has over 20 years of financial services industry experience selling and managing enterprise outsourcing, software and professional services engagements, specializing in mortgage servicing, loss mitigation and loan originations. Prior to PHH, he spent over four years as Senior Vice President, Strategy and Business Development at LenderLive Network and was twice named Sales Executive of the Year during that time. Prior roles include Senior Vice President, Business Development at Marix Servicing (acquired by Walter Investment Management Corp.); Vice President, Business Solutions at ISGN Solutions; and Director, Business Solutions at Dorado Corporation (acquired by CoreLogic). Sabbe holds a Bachelor of Science degree in mathematics from California Polytechnic State University.
About PHH Corporation
Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading provider of end-to-end mortgage solutions through its subsidiary, PHH Mortgage. Its outsourcing model and proven expertise, combined with a strong commitment to operational excellence and customer service, has enabled PHH Mortgage to become one of the largest non-bank originators, servicers and subservicers of residential mortgages in the United States. PHH Mortgage currently provides mortgage solutions for the real estate market and financial institutions, and offers home financing directly to consumers. For additional information, please visit www.phh.com.
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward looking-statements are not based on historical facts but instead represent only our current beliefs regarding future events. All forward-looking statements are, by their nature, subject to risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements. Such statements may be identified by words such as “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could.”
You should understand that forward-looking statements are not guarantees of performance or results and are preliminary in nature. You should consider the areas of risk described under the heading “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our periodic reports filed with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, in connection with any forward-looking statements that may be made by us or our businesses generally. Such periodic reports are available in the “Investors” section of our website at http://www.phh.com and are also available at http://www.sec.gov. Except for our ongoing obligations to disclose material information under the federal securities laws, applicable stock exchange listing standards and unless otherwise required by law, we undertake no obligation to release publicly any updates or revisions to any forward-looking statements or to report the occurrence or non-occurrence of anticipated or unanticipated events.
Hugo Arias, 856-917-0108
Dico Akseraylian, 856-917-0066
Jul 13, 2017