The chief investment officer of Ocwen Financial Corp. will temporarily take the reins from the company’s departing chief executive officer as Ocwen 2.0 is assembled.

In April, the West Palm Beach, Florida-based company disclosed that its president and CEO, Ronald M. Faris, will retire on June 30.

Ocwen explained that the Glen Messina, the former president and CEO of PHH Corp. — which Ocwen is in the process of acquiring — will replace Faris.

Source: Mortgage Daily