MT. LAUREL, N.J. – PHH Corp., operator of the biggest mortgage bank for credit unions, yesterday announced the hiring of Jerome Selitto, a long-time executive in the mortgage industry, as its new president and CEO.
Selitto succeeds George Kilroy, who in June stepped in as interim CEO after the departure of Terrence Edwards amid the company’s faltering financial situation.
Selitto has almost 40 years of experience in the mortgage industry and in capital markets, serving most recently as a senior consultant and then member of the senior management team of mortgage industry software provider Ellie Mae.
Prior to his stint at Ellie Mae, Selitto was CEO of DeepGreen Financial, an online home equity lender that he helped found. Earlier, he launched and helped lead mortgage insurance company Amerin Guaranty Corporation (now Radian Guaranty) and held senior leadership positions at First Chicago Corporation, PaineWebber and Kidder, Peabody & Co.
