Former Ginnie Mae Head Joseph J. Murin Named President of NewDay USA
Chrysalis Holdings LLC, an investment firm aimed at building and growing successful businesses that provide home financing, data analytics and technology solutions in the mortgage banking and financial services industries, has announced that Joseph J. Murin has been named chairman of the board. Murin succeeds outgoing Chairman Paul “Tim” Thompson III, who remains on the company’s board. In addition to his position as chairman of Chrysalis Holdings, Murin has also been named president of NewDay USA, and will provide strategic direction as the nationwide mortgage lender expands its leadership role in the mortgage banking industry.
Murin was formerly president of Ginnie Mae, where his efforts ensured strong support for the housing market during the worst of the recent housing crisis. He served both the Bush Administration and the Obama Administration during his tenure as president of Ginnie Mae. He was most recently CEO at National Real Estate Information Services, a portfolio owned by funds managed by affiliates of Fortress Investment Group LLC. He is also a co-founder and the vice chairman of The Collingwood Group LLC, a business advisory firm with a primary focus on financial services and technologies.
“Now is a great time to be a part of Chrysalis Holdings,” Murin said. “The company has been very successful in its approach to investing in growth-oriented businesses. I am eager to join this strong team of leaders, as we further expand the companies already in the portfolio and actively seek new opportunities where we can add value and develop growing companies into industry leaders.”
Key holdings in the Chrysalis Holdings portfolio of companies include NewDay USA, a nationwide VA, FHA, and reverse mortgage lender, and Chrysalis Analytics LLC, a technology company that uses custom analytics to provide clients with customer acquisition and credit-decisioning tools and information. In July 2012, Chrysalis Holdings completed the sale of LendingSpace Partners LLC, the mortgage loan origination software solutions provider, to Lender Processing Services Inc. (LPS). During the years that LendingSpace was among the key holdings at Chrysalis, the company became a leading provider of mortgage loan origination technology.
“It has been an honor to serve as the chairman of Chrysalis Holdings,” said Thompson. “I am proud of our accomplishments in recent years, and am very eager to work with Joe Murin in my role as a director of the company. The breadth and depth of experience that Joe brings to the chairmanship ensures our continued upward trajectory in achievement.”
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