PHH Corporation, a subservicer of residential mortgages in the United States, has appointed Albert Celini as senior vice president, risk and compliance. Celini will succeed Leith Kaplan and assume the role of chief risk and compliance officer of PHH Corporation, effective Jan. 1, 2018.
Kaplan, who has served as the company’s chief risk and compliance officer since 2014, will continue to serve in this role through December 31, 2017. Celini will report to President and CEO Robert Crowl.
The company announced on March 30, 2017 certain management changes it expects to make prior to the end of 2017. These changes are part of its previously announced plan to reduce costs as the company transitions to a business focused on mortgage subservicing and portfolio retention services.
Celini most recently was a risk management consultant with Newbold Advisors, a professional services firm, and Common Securitizations, a joint venture between Fannie Mae and Freddie Mac, helping organizations implement comprehensive risk, compliance and regulatory solutions. He previously served as executive vice president and chief risk officer of Sun National Bank, where he was responsible for the development, execution, and oversight of the bank’s enterprise risk management framework.