Longtime Ocwen Financial CEO Ron Faris to step down

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Ocwen is set to buy Messina’s former company for $360 million. Messina, who left PHH just over a year ago amid an executive shakeup, will replace Ron Faris as Ocwen president and CEO. According to details provided by the company, Faris is set to retire as Ocwen’s chief executive later this year.

the once-strong lending side of Ocwen Financial’s business showed a big slowdown during the quarter. Revenue from the segment got cut almost in half, although a corresponding drop in expenses helped.

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What: Shares of Ocwen Financial (NYSE:OCN) were down about 27% as of 11:30. Now what: As ugly as Ocwen’s results were, the true task ahead of CEO Ron Faris and his management team is continuing to.

Ronald faris overview ronald faris has been associated with seventy-nine companies, according to public records. The companies were formed over a twenty-four year period with the most recent being incorporated five years ago in October of 2013. Seven of the companies are still active while the remaining seventy-two are now listed as inactive.

ocwen financial corporation has named an interim CEO to replace the departing Ron Faris. Faris, the president and CEO of Ocwen, is retiring after 27 years with the company. He will officially step down June 30. The company is in the midst of acquiring PHH Corp., and had already named former PHH President and CEO Glenn Messina as Faris’ successor.

The move would mark the end of a 27-year career at Ocwen for Faris, who has been president of the company since 2001, and the CEO since 2010. Faris plans to step down as president and CEO on June 30 and Ocwen plans to acquire PHH in the second half of this year. But the deal has to clear various approvals first.

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During previous periods he has also served as Chief Financial Officer and Executive Vice President for Finance and Business Development. He has been with Ocwen since January 2011. Prior to joining Ocwen, Mr. Britti was Chief Operating Officer for mortgage insurer RMIC from 2005 to 2011. Mr.

In practice, there is," baseball legend Yogi Berra famously quipped. President and Chief Executive Officer (CEO) Ronald Faris and other senior managers at Ocwen Financial Corporation, Atlanta, are learning all about the difference between theory and practice as they implement changes integral to their turnaround strategy.