Staid will replace Marty Foster, who is retiring after working with the company for 20 years. Staid has 25 years in the industry, with experience in loan servicing and customer service operations. He served as president of SEMS, and from 2012 to 2015 worked as senior vice president and loan servicing and support operations business executive at Bank of America.
“As we stated during our fourth quarter earnings call, we intend to transition to a capital-light business model comprised of subservicing and portfolio retention services,” said Glen A. Messina, president and CEO of PHH Corporation. “We are delighted that Steve has agreed to join PHH. With Steve’s depth and breadth of servicing experience, along with his proven track record across a range of organizations, he will play a critical role in this transition and in our efforts to grow our subservicing portfolio.”
Foster will remain in the company until the second quarter 2017.
“For two decades Marty has provided invaluable leadership for PHH and our Servicing organization,” Messina said. “His consistent focus on customer service, process improvement and employee engagement has helped build the foundation for our future. I would like to thank Marty for his significant contributions to PHH and wish him all the best in his retirement.”
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New Jersey-based PHH Corporation has announced that it will tap industry veteran Stephen Staid as its new senior vice president in servicing, according to a news release.