The chief executive officer of Envoy Mortgage LTD is relinquishing his role, and an insider has been named to take his place.

The Houston-based company was originally founded as First Houston Mortgage in 1997. In 2008, it became Envoy Mortgage and brought on Patrick Walden as president and CEO.

Walden came from the now-defunct subprime lender Aegis Mortgage, where he spent 14 years. Under his leadership, originations at Envoy went from $0.7 billion to $4.0 billion.

Source: Mortgage Daily