PHH Mortgage Corporation: Difference between revisions
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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.}} | {{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.}} | ||
{{InfoboxCompany | {{InfoboxCompany | ||
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| Official Website =https://www.phhmortgage.com/ | | Official Website =https://www.phhmortgage.com/ | ||
| Logo =PHH-Mortgage.png | | Logo =PHH-Mortgage.png | ||
}}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|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> | |||
==Consumer impact summary== | ==Consumer impact summary== | ||
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==Incidents== | ==Incidents== | ||
===$6.25 Million Consumer Fraud Act Settlement (''2011'')=== | |||
In a settlement announced by Acting Attorney General John J. Hoffman,<ref>{{Cite web |last=Hoffman |first=John |date=4 Dec 2013 |title=Acting Attorney General Announces $6.25 Million Settlement Resolving Consumer Fraud Act Allegations Against PHH Mortgage |url=https://nj.gov/oag/newsreleases13/pr20131204a.html |access-date=7 Mar 2025 |website=The State of New Jersey Office of Attorney General}},</ref> New Jersey reached a $6.25 million agreement with PHH Mortgage Corporation to resolve allegations that the company misled financially struggling homeowners seeking loan modifications or assistance to avoid foreclosure. | |||
===$45 Million Multi-State Settlement (''2018'')=== | ===$45 Million Multi-State Settlement (''2018'')=== | ||
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*Lacking a structured process for document preparation, execution, and notarization in foreclosure cases. | *Lacking a structured process for document preparation, execution, and notarization in foreclosure cases. | ||
=== | === 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. | |||
By referencing details related to a homeowner's recent mortgage, Mortgage Service Center aims to establish credibility and engage potential customers. | |||
==References== | ==References== | ||
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[[Category:{{PAGENAME}}]] | [[Category:{{PAGENAME}}]] | ||
[[Category:Mortgage lenders]] | |||
[[Category:Direct Marketing]] | |||