PHH Mortgage Corporation: Difference between revisions

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~~{{Incomplete|Issue 1=The consumer impact summary need source to back up the claims made. These may overlap with the settlements below but are needed nevertheless.}}~~

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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>~~. Despite these actions, the company’s practices have raised concerns about transparency, consumer protection, and the treatment of financially struggling homeowners~~.

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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 {{DISPLAYTITLE:PHH Mortgage Corporation (Onity Mortgage)}}
-{{Incomplete|Issue 1=The consumer impact summary need source to back up the claims made. These may overlap with the settlements below but are needed nevertheless.}}
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 | Name = {{PAGENAME}}
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 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>. Despite these actions, the company’s practices have raised concerns about transparency, consumer protection, and the treatment of financially struggling homeowners.
+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==