Items Tagged with 'PHH Mortgage'

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  • NYDFS hits PHH with six-figure fine for failing to maintain single zombie home

    Investigation found PHH failed to maintain New Lebanon home for over 6 months
    Back in 2016, the state of New York enacted “sweeping” new laws aimed at reforming the state’s foreclosure process and addressing the state’s issues with zombie homes. And Thursday, the New York Department of Financial Services showed that the threat of a fine for improperly maintaining a zombie home is not an empty one.
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  • DOJ suing Northwest Trustee Services for illegally foreclosing on veterans

    Claims foreclosure trustee violated Servicemembers Civil Relief Act
    “Our investigation revealed that Northwest Trustee Services repeatedly failed to comply with laws that are meant to ensure our service members do not have to fight a two front war – one on behalf of all of us, and the other against illegal foreclosures,” U.S. Attorney Annette Hayes said.
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  • PHH promotes Madeline Flanagan to senior vice president and general counsel

    Replaces William Brown, who is stepping down as part of leadership changes
    PHH announced Monday that Madeline Flanagan will succeed William Brown as senior vice president and general counsel of PHH, effective Jan. 1, 2018. Brown is set to depart as part of series of leadership changes that included Robert Crowl replacing Glenn Messina as the company's president and CEO.
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  • PHH finalizes sale of Freddie Mac mortgage servicing rights portfolio to New Residential

    Moves closer to complete sale of MSR portfolio
    At the end of last year, PHH announced that it planned to sell off its entire mortgage servicing rights portfolio in a massive deal with New Residential Investment. Now, that process is moving closer to being complete, as PHH disclosed Monday that it recently completed the sale of “substantially all” of its Freddie Mac MSR portfolio to New Residential.
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  • LenderLive officially takes over PHH private-label mortgage operations

    PHH's business shift continues
    Earlier this year, LenderLive Network announced that it would be taking over PHH Mortgage Corporation’s private-label fulfillment operations in Jacksonville, Florida. That transition is now complete. According to LenderLive, the company is now processing, underwriting and closing loans on an outsourced basis for PHH fulfillment clients served out of the Jacksonville facility.
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  • PHH shakes up senior leadership, CEO Glen Messina departing

    Chief Financial Officer Robert Crowl tabbed as replacement
    Over the last few years, it’s been a two-pronged battle for PHH Corp. On one side, the company is locked in a legal war with the Consumer Financial Protection Bureau. On the other side, PHH’s business has undergone dramatic shifts. One of the few constants during this time of transition has been the company’s CEO, Glen Messina. But that’s not the case anymore.
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  • PHH laying off more employees in New York

    Cuts will leave company with 30 employees in region
    Given the headlines of late, it may be easy to forget that PHH Mortgage Corp’s landmark battle with the Consumer Financial Protection Bureau isn’t the only issue the company is facing. The company is also in the middle of a significant shift in its business, necessitated by substantial changes in its mortgage servicing operations.
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  • Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling

    Full court will rehear PHH case
    If President Donald Trump wants to fire Consumer Financial Protection Bureau Director Richard Cordray, he’s going to have to wait a little longer to do it, as the U.S. Court of Appeals for the District of Columbia Circuit ruled Thursday in favor of the CFPB. The ruling allows the embattled agency to defend the constitutionality of its leadership structure.
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  • LenderLive takes PHH private-label mortgage operations

    PHH dramatic business shift continues
    Earlier this week, PHH announced that it plans to exit its joint mortgage venture with Realogy Holdings, ceding the business to Guaranteed Rate as PHH continues to shift its business focus. But that’s far from the only change for the company. LenderLive is now set to take over PHH's private-label mortgage operations.
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