Ocwen Financial in West Palm Beach, Fla., has tapped Phyllis Caldwell to become its new chairperson.
Caldwell will succeed Barry Wish as board chair on March 15, according to a Friday news release. Wish had recently said that he would not stand for re-election at Ocwen's annual meeting in May
Caldwell has been an Ocwen director since January 2015. She was previously chief of the Homeownership Preservation Office of the Treasury Department, where she was responsible for housing market stabilization programs.
Wish has been Ocwen's chairman since January 2015. He was Ocwen's chairman emeritus between September 1996 and January 2015, and previously had been chairman from 1988 to 1996.
Additionally, William Lacy said that he will not stand for re-election to Ocwen's board this year. Ocwen has also named Carol Galante as its new independent director, replacing Caldwell in that role. Galante is a former commissioner of the Federal Housing Administration.
