Earlier this year, PHH Corp. shook up its senior management, making several moves, including replacing Glen Messina as president and CEO with Robert Crowl, who had served as the company’s chief financial officer since 2012.
Also included among those moves was William Brown, the company’s senior vice president and general counsel. At the time, PHH said that Brown was expected to remain with PHH until the end of the year to “support the continued execution of the company’s strategic actions.”
Now, Brown’s departure and what the company plans to do next have become a little clearer.
PHH announced Monday that Madeline Flanagan will succeed Brown as senior vice president and general counsel of PHH, effective Jan. 1, 2018. Flanagan has served as senior vice president and general counsel of PHH Mortgage, the company’s mortgage subsidiary, since 2012.
Flanagan joined PHH in 2002 with more than 25 years of experience as a mortgage and banking attorney. Flanagan was promoted to senior vice president and general counsel of PHH Mortgage in 2012. In this role, Flanagan has responsibility for all aspects of legal services, including contract administration, licensing, regulatory compliance, mortgage transactions and mortgage litigation.
In a release, PHH said the moves are part of its strategy to cut costs as it transitions to a business focused on mortgage subservicing and portfolio retention services.
“We are fortunate to have a 15-year veteran of the company and someone as qualified as Madeline ready to step into the General Counsel role,” Crown said of the move. “She has extensive experience across a number of legal and regulatory areas and has deep knowledge of the mortgage industry. She is a proven leader within our organization and I am confident she is the right person to lead the execution of our legal strategy to support our overall strategic direction.”
Of Brown, who is leaving PHH after 32 years, Crowl said he has been a valuable member of the team for a long time.
“Bill has provided invaluable leadership and legal expertise for PHH for over three decades, a period in which the mortgage industry has experienced tremendous business, legal and regulatory changes,” Crowl said.
“He has built an exceptional legal organization that oversaw multiple strategic transactions and has performed his duties as General Counsel with extraordinary devotion, a tireless work ethic and always with the highest standards of integrity,” Crowl said. “I want to thank Bill for his significant contributions to PHH during his 32-year tenure with the company and his continuing support through the end of the year to ensure a smooth leadership transition.”
Additionally, PHH announced that Ryan Melcher, assistant general counsel and assistant secretary of PHH, will assume the role of corporate secretary, a role currently held by Brown.
Melcher, who is currently responsible for all legal matters with respect to finance and capital markets, will assume the role of vice president, deputy general counsel and corporate secretary on Jan. 1, 2018 and will report to Flanagan.
