Fort Washington, Pennsylvania-based NewRez LLC [1] has named Rajinder Singh to its executive team as Chief Risk Officer. In his new role, Singh will oversee all aspects of risk, including the development and implementation of scalable infrastructure, analytics, processes, and systems for enterprise-wide risk management.
“Raj brings a wealth of experience in risk, audit, management, and process improvement to NewRez,” said Baron Silverstein, President of NewRez. “His extensive knowledge of the mortgage industry and experience in enterprise risk management will further support advancing our company and our strategic objectives. Raj will be a crucial member of our leadership team and play a key role in fostering a strong risk culture that helps responsibly grow our business. We are thrilled to welcome him to NewRez.”
Singh brings more than 23 years of experience to his new role, having led risk management teams at Genworth, Citigroup, GM Financial, and GE Capital. He earned his MBA in finance from the University of Rochester, bachelor’s degree in technology from the Indian Institute of Technology Kanpur, and has completed The Wharton School’s Advanced Risk Management Program.
“NewRez is a distinguished leader within the mortgage industry with a clear focus on elevating risk management across all facets of the company’s strategy,” said Singh. “I look forward to working with the NewRez team to continue providing best-in-class service and experience to our customers, clients and homeowners.”
New Residential Investment Corporation recently entered into an agreement [2] with an affiliate of Lone Star Funds to acquire Caliber Home Loans Inc., bringing together the platforms of Caliber and NewRez LLC in a $1.675 billion transaction.
Sanjiv Das, CEO of Caliber, said, “By combining platforms with NewRez [2], we will join another industry pioneer that has complementary strengths and is committed to delivering the dream of homeownership. Our combination of strategies will allow us to accelerate our leading position in purchase lending, grow our digital direct to consumer and broker initiatives, and further propel our retail franchise.