PHH Corp. said its recently departed chief financial officer will receive $400,000 in severance, and then a $200,000 lump sum payment in March of next year.
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The CFO, Sandra E. Bell, left the mortgage lender/servicer in early May to pursue what the company called “other opportunities.” No other details were given about her departure.
The Mt. Laurel, N.J.-based CFO, who also held the title of executive vice president, also will receive COBRA health care reimbursements and title to a company car she drove while at the mortgage firm.
The publicly traded PHH ranks among the top 10 in both lending and servicing, according to figures compiled by National Mortgage News.
The information about her package was mentioned in a SEC filing.
