PHH Names Robert Crowl New CFO

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PHH (PHH) of Mount Laurel, N.J., has hired Sun Bancorp's (SNBC) chief financial officer, Robert Crowl, for the same position.

Crowl will succeed David Coles, who has been serving as interim CFO since Sandra E. Bell left last year, on April 26. His hiring was reported by the Philadelphia Business Journal.

Crowl has 25 years of management and senior-level mortgage and banking experience and will be responsible for leading PHH's financial and reporting functions, the mortgage lender said Friday.

He joined Sun of Vineland, N.J., in March 2010 as CFO of the company and its Sun National Bank.

At Sun, Crowl helped to "restore balance sheet strength and position the company for growth through private and public capital raises, executing multiple problem loan sales, and launching a series of performance improvement initiatives," PHH said in a news release.

Prior to joining Sun, Crowl was an executive at the former National City Bank of Cleveland and served as chief operating officer of National City Mortgage from 2007 to 2009.

PHH has experienced several executive changes in recent months. Luke Hayden, who was president of PHH Mortgage for less than two years, resigned last month. The company's treasurer, Mark Johnson, also left.

In January, the company said that its chief executive, Jerome Selitto, resigned and was replaced by chief operating officer, Glen Messina.

The lender reported in February a fourth-quarter profit of $13 million but a loss of $127 million for 2011.

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