PHH Corp. has named industry veteran Luke Hayden president of its mortgage division.

Hayden succeeded Mark Danahy, who left the nonbank lender and servicer to "pursue other opportunities," PHH said Friday after the market closed.

PHH, of Mt. Laurel, N.J., is the largest private-label mortgage originator, the eighth-largest lender overall and the ninth-largest servicer with $151 billion of loans in its portfolio, according to National Mortgage News data.

During his 30-year career in mortgage banking, Hayden has worked at Chase Home Mortgage (now a part of JPMorgan Chase & Co.) and GMAC Mortgage (now a part of Ally Financial Inc.).

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.