NEWARK, N.J.--(BUSINESS WIRE)-- Paige Warren has been named to lead Prudential Huntoon Paige, the FHA lending business of Prudential Mortgage Capital Company. Warren, who also heads Prudential’s affordable housing business, will assume the role effective on Dec. 5. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial Inc. (NYSE: PRU).

Warren, a managing director who has been with Prudential since 2003 and is president of its Prudential Affordable Mortgage Company, will replace Marie Head, who has been appointed by the Obama administration to serve as deputy assistant secretary of multifamily housing for the U.S. Department of Housing and Urban Development.

“Paige’s exceptional experience and leadership in the multifamily industry make her the perfect successor as we seek to expand Prudential Huntoon Paige’s strong track record,” said David Twardock, president of Prudential Mortgage Capital. “And we are proud that the entire industry will have an opportunity to benefit from Marie’s leadership in her important new role at HUD.”

For the last seven years, Warren has led and expanded Prudential’s affordable housing lending business while strengthening its relationship with Fannie Mae and beginning a relationship with Freddie Mac. Under her leadership, Freddie Mac appointed Prudential Mortgage Capital as one of its first nationally designated Targeted Affordable Lenders.

Before joining Prudential, Warren served as deputy director for debt restructuring for HUD’s mark-to-market program. Earlier, she was a vice president at Applied Real Estate Analysis Inc., worked as a development associate at Security Capital Group and was a senior associate with Robert Charles Lesser & Co.

Warren holds a bachelor’s degree in economics from Vassar College and a master’s degree from the Massachusetts Institute of Technology.

Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $ 69.5 billion in assets under management and administration as of September 30, 2011. Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential’s general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $66.9 billion, as of September 30, 2011. For more information, please visit http://www.prumortgagecapital.com.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

CONTACT:

Prudential Financial, Inc.
John Chartier, 973-802-9829
john.chartier@prudential.com

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