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SPS Names New Chief Executive, Starts Bidding on Business.(Select Portfolio Servicing Inc. names Matt Hollingsworth )
Select Portfolio Servicing Inc. here has promoted its current president Matt Hollingsworth to be chief executive, replacing James Ozanne, who will remain chairman of the subprime servicing company formerly known as Fairbanks Capital Corp.
Mr. Ozanne took over the management of Fairbanks in 2003 to clean up the company in the wake of investigations regarding its servicing practices.
Mr. Hollingsworth joined Fairbanks in late 2002. He previously was in charge of U.S. branch operations for Associates First Capital Corp., a subprime lender that was acquired by Citigroup in 2000.
"Matt brings more than 18 years of mortgage industry and leadership experience to SPS," Mr. Ozanne said.
Separately, Financial Security Assurance Inc. said that Mr. Ozanne is rejoining its board of directors. FSA has a minority investment in SPS.
The Salt Lake City servicing company changed its name to Select Portfolio Servicing July 1.
"My goal is to provide the highest quality service to our customers while building a profitable company," Mr. Hollingsworth said.
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Source: HighBeam Research, SPS Names New Chief Executive, Starts Bidding on Business.(Select...