Cyrus Brinn has been promoted to chief executive officer of GHR Systems Inc., Wayne, Pa., and David Morrison has been promoted to executive vice president and general manager of GHR's Mortgage Automation Solutions division.Mr. Brinn joined GHR in 1998 as executive vice president and has served as the company's president and chief operating officer since June 1999. He will share the title of CEO with Allan Redstone, a cofounder of GHR. "Since 1984, Brinn has been pioneering the design and development of numerous automated lending systems including mortgage loan origination, secondary marketing, closing, servicing, asset management, investor reporting and securitization," the company said. Mr. Morrison started with GHR in 2000 as senior vice president of client services. GHR Systems, a provider of lending automation technology, can be found on the Web at http://www.ghrsystems.com.
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Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
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