Selene Finance, a specialty servicer/loan modification company controlled by Lewis Ranieri, has hired Larry Litton Jr. and a handful of top managers from Litton Loan Servicing, Houston, according to servicing executives that have done business with the firm.
At press time, Ranieri and one of his spokesmen had not returned telephone calls and emails about the matter.
Litton until recently headed the servicing firm that bears his name, which two months ago was sold to Ocwen Financial Corp., Atlanta. (Litton's father, Larry Sr. started the company.)
Selene, like Litton, has offices in Houston. Ocwen has yet to comment on its plans for Litton's office space.
One servicing advisor told ASR sister publication National Mortgage News that Litton brought over to Selene several “key senior” managers.