PHH Corp. Monday morning named former General Electric energy executive David Tucker president of its mortgage division.
Tucker, who appears to have no direct mortgage experience, succeeds Smriti Laxman Popenoe, who had been serving as interim president of PHH Mortgage since March 2012.
Among residential lenders and servicers, PHH Mortgage ranks seventh nationwide, according to figures compiled by ASR sister publication, National Mortgage News and the Quarterly Data Report.
Early in his career at GE, Tucker served in several positions with GE Capital Services, including chief financial officer of vendor financial services, the company’s private label commercial finance unit. There he was responsible for cash management and customer service initiatives.
PHH Mortgage is the nation’s largest private label residential lender and servicer.
Over the past year PHH, the parent company, and its mortgage division, have been plagued by several high level departures, including the exit of CEO Jerry Selitto in January.