Ocwen Financial has announced that it appointed Timothy J. Yanoti chief growth officer and Albert Celini chief risk and compliance officer as it seeks to position itself for a return to growth and profitability.
In his newly created role, Yanoti will be responsible for leading Ocwen’s lending business and operations, including forward and reverse mortgage lending, MSR purchases, and servicing business-development efforts. Yanoti was also appointed executive vice president.
Yanoti most recently served as co-chairman and president of American Financial Resources. Previously, he was head of securitization for Fannie Mae.
“Tim brings tremendous knowledge and experience across the mortgage industry with a proven track record of growth to Ocwen,” President and CEO Glen Messina said. “He has significant experience in residential originations, operations, and capital markets, and will play a critical role in developing and executing a successful growth strategy to access a range of market opportunities.”
Celini was previously chief risk and compliance officer of PHH and joined Ocwen as part of its acquisition of PHH. Celini was also appointed senior vice president.
“Our efforts to pursue growth in a responsible, disciplined manner are aligned with our focus on continuing to develop and maintain strong risk and compliance capabilities,” Messina said. “Al has extensive management experience in the risk and compliance areas within the mortgage banking and banking industries. I am confident that his strength as a risk practitioner combined with his deep understanding of mortgage business operations will be extremely valuable to Ocwen and our transformation plans.”
Both Yanoti and Celini will report to Messina.