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Nationstar and Ocwen Announce Changes at the Top

Tony Ebers

It’s been a busy day for the mortgage and servicing industry. Both Nationstar and Ocwen announced major leadership changes on Thursday, with Nationstar naming its first COO in the form of Tony Ebers and Ocwen announcing that Glen Messina will take over as the company’s President after Ron Faris is set to retire.

Ebers will become Nationstar’s first-ever COO, according to the company’s Thursday-afternoon statement.

"Tony is a seasoned and trusted leader who consistently delivers results. He is uniquely qualified to drive strategic prioritization and accountability within Nationstar, with a laser-focus on operational excellence," said Jay Bray, Chairman and CEO. "I have tremendous confidence in Tony's ability to align Nationstar’s innovative home loan experience with industry-leading operational practices to drive and extend the next-generation of Nationstar's market leadership."

Effective immediately, Ebers will assume responsibility for servicing, originations, and Xome operations. Ebers will be responsible for ensuring operational excellence across the company and leading the company-wide initiative to place the home, rather than the loan, at the center of the homeownership journey.

"Nationstar has an incredible set of assets that uniquely positions us to lead the industry in innovation and service," said Ebers, COO. "I am honored by the appointment and look forward to helping lead the company as we work to create a best-in-class, holistic customer experience."

Glen Messina

On the Ocwen front, the Florida-based financial services holding company announced Thursday morning that President and CEO Ron Faris is retiring after 27 years with the company. Faris will remain President and CEO through June 30, 2018, and will remain a consultant to the company to "ensure a smooth leadership transition and to assist with the integration process for Ocwen’s pending combination with PHH."

“We thank Ron for his leadership and for all of his contributions over the years,” said Phyllis Caldwell, Chair of Ocwen’s Board. “As President and CEO, Ron guided Ocwen through a period of significant change, both in the mortgage industry and at our Company. Ron redesigned the way we conduct business and, because of Ron’s leadership, we are strategically positioned to move forward into the future through our pending merger with PHH.”

Ocwen's  Board of Directors has appointed Glen A. Messina as President and CEO, effective concurrently with the closing of Ocwen’s previously announced acquisition of PHH Corporation. He will also be appointed as a member of Ocwen’s Board at that time. Messina will be based at Ocwen’s West Palm Beach, Florida, corporate headquarters.

Ron Faris

Messina was most recently President and CEO of PHH before stepping down in June 2017. Ocwen entered into a definitive agreement to acquire PHH in February 2018. The transaction is targeted to close in the second half of 2018.

“We are very pleased that Glen Messina has decided to join Ocwen as our new President and CEO,”  Caldwell said. “Glen is one of the recognized leaders in the mortgage industry and his disciplined approach to top and bottom line results in his previous roles is widely respected. He also has a successful record of bringing together strong teams to strategically build stability and structure across an enterprise. Glen’s significant experience leading change as a public company CEO and his deep understanding of PHH will help accelerate Ocwen’s transformation.”

“I am extremely excited to join Ocwen at this important time for the Company,” Messina said. “I believe Ocwen’s pending combination with PHH will create a stronger, more efficient mortgage servicer, positioned for a return to growth. I believe the merger with PHH, combined with the major overhaul that Ocwen has undertaken in recent years of its risk and compliance infrastructure, will mark the beginning of a new chapter in the Company’s history. I look forward to partnering with all team members to help Ocwen continue as a leading mortgage servicer that delivers significant benefits to consumers, employees, clients, and investors.”

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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