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David E. Tucker Named President Of PHH Mortgage

PHH Corporation (NYSE: PHH) (the “Company”) today announced that David E. Tucker has been appointed President of PHH Mortgage Corporation ("PHH Mortgage"), the Company’s mortgage origination and servicing subsidiary. Tucker succeeds Smriti Laxman Popenoe, who has served as Interim President of PHH Mortgage since March 2012. After a transition period, Popenoe will resume her responsibilities as Executive Vice President and Chief Risk Officer of PHH Corporation.

“I'm excited to announce that Dave is joining the PHH team. Dave is a disciplined leader who brings proven experience in private label and service businesses to PHH. He is a change agent with a track record of growing and strengthening organizations through a focus on customer relationships, improved operating performance, financial discipline and delivering results,” said Glen A. Messina, President and Chief Executive Officer of PHH Corporation. “I am confident that, under his leadership, PHH Mortgage will successfully execute against our key strategies of disciplined growth in our Private Label Solutions and Realogy platforms, operational excellence, and an unwavering commitment to customer service.”

“PHH Mortgage is a recognized leader with a proven track record,” commented Tucker, “and I’m excited to be joining at a time of unprecedented change in the mortgage industry. I look forward to working with Glen and the team as we shape and grow the business for the benefit of our business partners and hundreds of thousands of borrowers across America.”

Messina added, “We are fortunate to have been able to call upon Smriti’s knowledge of the mortgage business over the past two months, and we thank her for her leadership.”

About David E. Tucker

David E. Tucker gained 25 years of management experience at General Electric Company (GE), with leadership roles including, most recently, Chief Operating Officer of GE Oil & Gas – Drilling & Productions Systems, where he led a new business formed through acquisition, with 5,800 employees in more than 40 countries. Previously, as General Manager of Global Business Development for GE Energy, he led the strategy development, mergers and acquisitions and integration activities for GE's largest industrial business and delivered one of the most expansive periods of diversification in GE Energy's history. Earlier in his career, Tucker served in several positions with GE Capital Services, including Chief Financial Officer of Vendor Financial Services, the company’s private label commercial finance unit, where he was responsible for successful cash management and customer service initiatives. He also served on the GE Corporate Audit Staff and was leader of the GE Capital Audit Staff. Tucker earned a Bachelor of Science degree from Bentley College and is a certified Six Sigma Black Belt.

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