Mr Cooper Group names risk and compliance chief

Nasdaq-listed Mr Cooper Group has expanded the role of Kurt Johnson, who has been with the company for five years, most recently as chief credit officer. He is now also executive vice president and chief risk and compliance officer.

In his expanded role, Johnson succeeds Steve Covington, who is retiring in June after nearly six years with Mr Cooper Group. Johnson and Covington will work together on the transition over the coming months.

Johnson has worked for more than 20 years in the mortgage industry and has led key work for Mr Cooper Group in setting risk-related policy and governance. Most recently, he took the lead within the company on the mortgage relief options included in the Cares Act, working with government agencies to advocate for homeowners and help Mr Cooper Group customers during the Covid-19 pandemic.

Before joining Mr Cooper Group, Johnson was executive vice president at OneWest Bank for six years. Earlier in his career, he helped develop a streamline modification program that was used as the template for the Home Affordable Modification Program.

‘Kurt is one of the most credible risk and policy experts in our industry, and I am confident he will continue to build upon the relationships the team has established with regulators and government officials in his expanded role,’ chair and CEO Jay Bray says in a statement. ‘I would like to thank Steve for his leadership in building a best-in-class risk and compliance organization, which is a pillar strength for Mr Cooper, and wish him the best in his well-deserved retirement.’