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PHH Mortgage Corporation, a subsidiary of Ocwen Financial Corporation and a leading non-bank mortgage servicer and originator, today announced that Michael Keaton has joined the Company as SVP of Default Subservicing.
In this newly created, sales-focused role, Keaton will be responsible for leveraging the company’s proven and extensive special servicing capabilities and expertise to drive the growth of PHH’s sub-performing and non-performing servicing through strategic subservicing opportunities. He will report directly to Scott Anderson, EVP and Chief Servicing Officer.
Keaton brings to PHH more than 30 years of sales and operational experience in mortgage servicing and subservicing. He joins PHH from Shellpoint Mortgage Servicing where he most recently served as the company’s Chief Servicing Officer. Prior to this role, Mr. Keaton held several executive-level roles in mortgage servicing and default loan administration at Resurgent Capital Services and Wendover Financial Services.
“We are very excited to have Keaton join our team. He brings a unique combination of executive leadership and extensive operational experience in default servicing with the skill set and industry credibility to drive business results,” commented Anderson. “With the continued downturn in the mortgage industry and broader recessionary environment, we believe our proven special servicing capabilities will create opportunities to support homeowners, clients and investors through a challenging mortgage cycle.”
Keaton most recently served as the Chief Servicing Officer at Shellpoint Mortgage Servicing, which he joined in 2014. At Shellpoint, he was responsible for all aspects of the loan servicing lifecycle for 1.7 million loans under management. Prior to joining Shellpoint, Keaton held several executive-level roles at Resurgent Capital Services between 2002 and 2014, including VP of Loan Servicing, SVP of Bankruptcy Servicing and Executive Vice President of Mortgage Servicing and Recovery. He began his career at Wendover Financial Services, where he spent more than 10 years and finished his tenure as VP of Default Administration for the nation’s largest servicer of subprime mortgage loans at that time. Keaton holds a Master of Arts degree from North Dakota State University and a Bachelor of Science degree from the University of Wisconsin-Eau Claire.
