Financial services holding company Ocwen Financial Corp. has announced the resignation of its executive vice president and chief financial officer (CFO), Michael Bourque.
The West Palm Beach, Fla.-based holding company, whose subsidiaries include Ocwen Loan Servicing LLC and Ocwen Mortgage Servicing Inc., says Bourque has accepted a position with another financial services company.
Ocwen notes that Bourque’s resignation is not due to any disagreement relating to the company’s operations, policies or practices.
“We would like to thank Michael for his financial leadership and his many contributions over the last four years,” states Ron Faris, president and CEO of Ocwen. “While at Ocwen, Michael has focused his efforts on ensuring the company is in solid financial standing and is well-positioned for future success. We respect Michael’s personal decision, and we wish him the best in his new position.”
Bourque’s resignation is effective June 22. Ocwen has begun a search to identify qualified internal and external candidates to fill the CFO position.
Ocwen Financial Corp. announced earlier this year it would be acquiring mortgage originator and servicer PHH Corp. The company also announced in December that – as per its settlement with more than 20 states that had filed complaints against it over alleged servicing violations – that it would be replacing its current mortgage servicing system, REALServicing, with Black Knight’s mortgage servicing platform, MSP, for all new loans it boards.
