PHH Mortgage Corporation: Difference between revisions

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PHH Mortgage Corporation is a subsidiary of Onity Group, Inc., a privately held mortgage servicer and lender based in Florida. As of June 10, 2024, Onity Mortgage has been established as a dba (doing business as) of PHH Mortgage.<ref>https://business.phhmortgage.com/BusinessPHH/media/BusinessPHH/Pdf/PHH_Onity-FAQs.pdf</ref>

[[File:OnityGroupCompanyTree PHHMortgageCorporation V1.png|alt=Tree describing company relationships under the Onity Group, highlighting PHH Mortgage Corporation in light blue|thumb|549x549px|PHH Mortgage Corporation structure according to SEC filings.<ref>{{Cite web |date=27 Nov 2024 |title=ONITY GROUP INC. 8-K |url=https://www.sec.gov/Archives/edgar/data/873860/000149315224048499/ex10-2.htm |access-date=7 Mar 2024 |website=Securities and Exchange Commission}}</ref>]]

==Consumer impact summary==

PHH Mortgage Corporation, a non-bank residential mortgage servicer, has faced multiple allegations related to improper loan servicing practices, impacting borrowers across the United States. The company has been accused of failing to properly apply borrower payments, charging unauthorized fees, and mishandling loan modification requests. In some cases, PHH provided misleading information to homeowners facing foreclosure, and in others, it failed to maintain accurate records or oversee third-party vendors involved in servicing and foreclosure processes<ref name=":0" />.

PHH Mortgage Corporation, a non-bank residential mortgage servicer, has faced multiple allegations related to improper loan servicing practices, impacting borrowers across the United States. The company has been accused of failing to properly apply borrower payments, charging unauthorized fees, and mishandling loan modification requests. In some cases, PHH provided misleading information to homeowners facing foreclosure, and in others, it failed to maintain accurate records or oversee third-party vendors involved in servicing and foreclosure processes.<ref name=":0" />

These practices have led to financial hardship for many homeowners, with some experiencing delays or miscommunications that resulted in foreclosures or loss of modification opportunities<ref>https://www.nj.gov/oag/newsreleases18/PHH_Complaint-for-filing-v1.pdf</ref>. In response to these allegations, PHH has reached settlements, including restitution for affected borrowers and commitments to adopt improved servicing standards<ref>https://www.nj.gov/oag/newsreleases18/PHH_Consent-Judgment.pdf</ref>.

These practices have led to financial hardship for many homeowners, with some experiencing delays or miscommunications that resulted in foreclosures or loss of modification opportunities.<ref>https://www.nj.gov/oag/newsreleases18/PHH_Complaint-for-filing-v1.pdf</ref> In response to these allegations, PHH has reached settlements, including restitution for affected borrowers and commitments to adopt improved servicing standards.<ref>https://www.nj.gov/oag/newsreleases18/PHH_Consent-Judgment.pdf</ref>

==Incidents==

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*Lacking a structured process for document preparation, execution, and notarization in foreclosure cases.

=== Mortgage Service Center ===

===Mortgage Service Center===

Mortgage Service Center is a registered DBA of PHH Mortgage Corporation,<ref>https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=b9c14d71-c21d-ea11-918b-00155d01b4fc</ref><ref>https://extranet.dfi.in.gov/ConsumerCredit/EntityDetails/2881</ref><ref>https://licensing.coag.gov/s/license-report/a1mcs000001xAl2AAE/sup4000219005</ref> and engages in direct marketing by utilizing publicly available county records, including property details such as closing dates, loan amounts, lender names, mortgagor names, and addresses, to contact new homeowners with mortgage-related offers.

Mortgage Service Center is a registered DBA of PHH Mortgage Corporation<ref>https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=b9c14d71-c21d-ea11-918b-00155d01b4fc</ref><ref>https://extranet.dfi.in.gov/ConsumerCredit/EntityDetails/2881</ref><ref>https://licensing.coag.gov/s/license-report/a1mcs000001xAl2AAE/sup4000219005</ref>, and engages in direct marketing by utilizing publicly available county records, including property details such as closing dates, loan amounts, lender names, mortgagor names, and addresses, to contact new homeowners with mortgage-related offers.

By referencing details related to a homeowner's recent mortgage, Mortgage Service Center aims to establish credibility and engage potential customers.

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==References==

[[Category:{{PAGENAME}}]]

~~[[Category:Mortgage lenders]]~~

~~[[Category:Direct Marketing]]~~

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 | Logo =PHH-Mortgage.png
 }}
-[[File:OnityGroupCompanyTree PHHMortgageCorporation V1.png|alt=Tree describing company relationships under the Onity Group, highlighting PHH Mortgage Corporation in light blue|none|thumb|579x579px|PHH Mortgage Corporation]]
 PHH Mortgage Corporation is a subsidiary of Onity Group, Inc., a privately held mortgage servicer and lender based in Florida. As of June 10, 2024, Onity Mortgage has been established as a dba (doing business as) of PHH Mortgage.<ref>https://business.phhmortgage.com/BusinessPHH/media/BusinessPHH/Pdf/PHH_Onity-FAQs.pdf</ref>
+[[File:OnityGroupCompanyTree PHHMortgageCorporation V1.png|alt=Tree describing company relationships under the Onity Group, highlighting PHH Mortgage Corporation in light blue|thumb|549x549px|PHH Mortgage Corporation structure according to SEC filings.<ref>{{Cite web |date=27 Nov 2024 |title=ONITY GROUP INC. 8-K |url=https://www.sec.gov/Archives/edgar/data/873860/000149315224048499/ex10-2.htm |access-date=7 Mar 2024 |website=Securities and Exchange Commission}}</ref>]]
 ==Consumer impact summary==
-PHH Mortgage Corporation, a non-bank residential mortgage servicer, has faced multiple allegations related to improper loan servicing practices, impacting borrowers across the United States. The company has been accused of failing to properly apply borrower payments, charging unauthorized fees, and mishandling loan modification requests. In some cases, PHH provided misleading information to homeowners facing foreclosure, and in others, it failed to maintain accurate records or oversee third-party vendors involved in servicing and foreclosure processes<ref name=":0" />.
+PHH Mortgage Corporation, a non-bank residential mortgage servicer, has faced multiple allegations related to improper loan servicing practices, impacting borrowers across the United States. The company has been accused of failing to properly apply borrower payments, charging unauthorized fees, and mishandling loan modification requests. In some cases, PHH provided misleading information to homeowners facing foreclosure, and in others, it failed to maintain accurate records or oversee third-party vendors involved in servicing and foreclosure processes.<ref name=":0" />
-These practices have led to financial hardship for many homeowners, with some experiencing delays or miscommunications that resulted in foreclosures or loss of modification opportunities<ref>https://www.nj.gov/oag/newsreleases18/PHH_Complaint-for-filing-v1.pdf</ref>. In response to these allegations, PHH has reached settlements, including restitution for affected borrowers and commitments to adopt improved servicing standards<ref>https://www.nj.gov/oag/newsreleases18/PHH_Consent-Judgment.pdf</ref>.
+These practices have led to financial hardship for many homeowners, with some experiencing delays or miscommunications that resulted in foreclosures or loss of modification opportunities.<ref>https://www.nj.gov/oag/newsreleases18/PHH_Complaint-for-filing-v1.pdf</ref> In response to these allegations, PHH has reached settlements, including restitution for affected borrowers and commitments to adopt improved servicing standards.<ref>https://www.nj.gov/oag/newsreleases18/PHH_Consent-Judgment.pdf</ref>
 ==Incidents==
@@ Line 38: / Line 39: @@
 *Lacking a structured process for document preparation, execution, and notarization in foreclosure cases.
-=== Mortgage Service Center ===
+===Mortgage Service Center===
-[[File:OnityGroupCompanyTree MortgageServiceCenter V1.png|alt=Onity Group Company Tree with Mortgage Service Center highlighted in light blue, to show relationship to the parent companies|none|thumb|646x646px|'''Onity Group Company Tree''']]
+Mortgage Service Center is a registered DBA of PHH Mortgage Corporation,<ref>https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=b9c14d71-c21d-ea11-918b-00155d01b4fc</ref><ref>https://extranet.dfi.in.gov/ConsumerCredit/EntityDetails/2881</ref><ref>https://licensing.coag.gov/s/license-report/a1mcs000001xAl2AAE/sup4000219005</ref> and engages in direct marketing by utilizing publicly available county records, including property details such as closing dates, loan amounts, lender names, mortgagor names, and addresses, to contact new homeowners with mortgage-related offers.
-Mortgage Service Center is a registered DBA of PHH Mortgage Corporation<ref>https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=b9c14d71-c21d-ea11-918b-00155d01b4fc</ref><ref>https://extranet.dfi.in.gov/ConsumerCredit/EntityDetails/2881</ref><ref>https://licensing.coag.gov/s/license-report/a1mcs000001xAl2AAE/sup4000219005</ref>, and engages in direct marketing by utilizing publicly available county records, including property details such as closing dates, loan amounts, lender names, mortgagor names, and addresses, to contact new homeowners with mortgage-related offers.
 By referencing details related to a homeowner's recent mortgage, Mortgage Service Center aims to establish credibility and engage potential customers.
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 ==References==
 {{reflist}}
 [[Category:{{PAGENAME}}]]
-[[Category:Mortgage lenders]]
-[[Category:Direct Marketing]]