J.G. Wentworth has announced that it has established a new reporting structure under which Phil Buscemi, president of J.G. Wentworth Home Lending, will report directly to the board.
The change, which is effective immediately, is part of the company’s efforts to expand its mortgage-lending division.
“J.G. Wentworth Home Lending continues to experience record growth in loan originations and operational capacity,” J.G. Wentworth Chair David Miller said. “This new reporting structure will support our efforts to sustain the company’s progress in the home-lending space. More broadly, it will give our many divisions the focus and flexibility they need to maximize their potential.”
Additionally, J.G. Wentworth said it has appointed Randi Sellari as CEO of specialty finance, effective immediately. Sellari, who is returning to the company, succeeds Stewart Stockdale, who has led the company since 2014.
“We are excited to welcome Randi back to our executive team,” Miller said. “Randi’s institutional knowledge, depth of industry expertise, and leadership skills make her uniquely qualified to lead the company successfully into the future.”
In her new role, Sellari will oversee all corporate functions of the company and report to the board on behalf of the structured settlements, prepaid cards, and personal and business loans divisions. She previously spent nearly two decades at J.G. Wentworth, serving in a variety of leadership roles, including CFO and, later, president and COO.