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PHH Corporation Names Smriti Laxman Popenoe Executive Vice President and Chief Risk Officer

^{Published on 2010-07-26 13:25:45 - Market Wire}
 

MT. LAUREL, N.J.--([ BUSINESS WIRE ])--PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today announced that it has named Smriti Laxman Popenoe Executive Vice President and Chief Risk Officer effective September 13, 2010. In this new position, Popenoe will assume responsibility for the design and implementation of an enterprise-wide risk framework and will work with the Company's business units to identify, effectively manage and mitigate credit, market and operational risks. She will report to Jerry Selitto, President and Chief Executive Officer.

"Smriti is a highly skilled quantitative and qualitative risk manager with a diverse portfolio of experience"

Popenoe joins PHH from TriSim Inc., a financial advisory firm in Washington, DC that counsels participants in the fixed income markets, where she was a Principal. Prior to joining TriSim, she spent three years with Wachovia (now Wells Fargo), as Senior Vice President, Balance Sheet Management, where she led a team responsible for all aspects of the firma™s $130-billion investment portfolio, including agency and non-agency RMBS, ABS, CMBS and whole loans. Earlier, Popenoe spent nine years with Freddie Mac, the last five years of which she had portfolio management oversight across the $400-billion fixed rate MBS and whole loan portfolio. Popenoe began her career in 1993 at Nasd/Nasdaq, now known as FINRA.

aSmriti is a highly skilled quantitative and qualitative risk manager with a diverse portfolio of experience,a said Selitto. aHer extensive market risk and portfolio analysis skills, combined with her expertise in mortgage and real estate, will be invaluable to PHH as we evaluate and pursue opportunities to prudently grow our business and enhance shareholder value. I am confident that her skill set is an ideal complement to our existing management team, and she will play an important role in helping us achieve our transformation objectives.a

Popenoe holds a Bachelor of Science in Chemistry and Environmental Science from St. Josepha™s College in Bangalore, India, a Masters-Level French Diploma from Alliance Francaise, an MBA from the University of Rochester and is a Chartered Financial Analyst.

About PHH Corporation

Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary, PHH Mortgage, is one of the top five retail originators of residential mortgages in the United States¹, and its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada. For additional information about the company and its subsidiaries, please visit [ www.phh.com ].

¹ Inside Mortgage Finance, Copyright 2010

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