PHH Names Former Chase Executive to Head Mortgage Unit

PHH Corp. on Monday named industry veteran Luke Hayden president of its mortgage division, effective immediately. In a statement PHH said Hayden replaces Mark Danahy, who left the nonbank lender/servicer to "pursue other opportunities." At press time the company had not returned telephone calls concerning Danahy's departure. According to figures compiled by National Mortgage News and the Quarterly Data Report, the Mount Laurel-based PHH Mortgage is the nation's ninth largest servicer with $151 billion in receivables. It ranks eighth among funders. PHH Mortgage also is one of the largest private label lenders in the nation. During his 30-year career in mortgage banking, Hayden has worked at Chase Home Mortgage, GMAC Mortgage, and Renaissance Investment Trust.