Selene Finance Announces CEO Changes

Joseph Pensabene to be named CEO

Jul 15, 2015, 16:20 ET from Selene Finance

HORSHAM, Pa., July 15, 2015 /PRNewswire/ -- Selene Finance LP ("Selene"), a trusted name in the specialty servicing business, announced today that its Board of Directors has named seasoned residential mortgage servicing and originations veteran Joseph A. Pensabene as the company's next chief executive officer.  He will also be elected to the Board of Directors.  His employment with Selene is effective August 3.  Pensabene joins Selene with more than 20 years of experience at some of the nation's leading residential mortgage companies. As Selene's new CEO, Pensabene's top priorities will be accelerating the company's growth and advancing Selene's status as a premier residential special servicer. Pensabene will be based in Horsham, PA.

Pensabene most recently served as the managing director of lending operations at Bayview Loan Servicing.  Prior to that he was the executive vice president and chief servicing officer at GMAC ResCap where he oversaw all aspects of the company's primary, special, master and fee-based servicing businesses.  During his tenure at GMAC ResCap, the servicing operation was a Number 1 rated Fannie Mae servicer according to the STAR rating system, a Tier 1 Freddie Mac and HUD servicer, an industry leader in the U.S. Treasury HAMP program, and a top 5 U.S. subservicer.

Selene Finance also announced that Larry Litton, Jr. has elected to retire. Litton was previously the CEO of Selene Finance and had joined the firm in 2011.

Selene Finance was founded in 2007 and is a trusted name in the specialty servicing business. Selene is owned indirectly by investment funds managed by two respected names in the investment management industry – Oaktree Capital Management, L.P. and Ranieri Partners Management.   Selene has been named as one of only two servicers in the country selected to be a Ginnie Mae Default Servicer and is also a FDIC Default Servicer. Selene handles servicing for nearly 100,000 performing and non-performing loans representing $12 billion UPB. More than 600 employees work in Selene's Houston, TX; Jacksonville, FL; and Horsham, PA locations.

SOURCE Selene Finance



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