Items Tagged with 'PHH Mortgage Corp.'

ARTICLES

  • 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 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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  • PHH fined $28 million by NYDFS for "shoddy" mortgage servicing

    Lender's actions echo several crisis-era practices
    The New York Department of Financial Services announced Wednesday that it is fining PHH $28 million for what it calls “shoddy mortgage origination and servicing practices.” In announcing the fine, the NYDFS provided a list of the violations that PHH committed, and it reads like a laundry list of some of the same practices that gave the mortgage business a bad name before, during and after the financial crisis.
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  • Monday Morning Cup of Coffee: Judge tosses Ocwen, Altisource kickback lawsuit

    Calls alleged actions "extremely troubling," but says case doesn’t hold up
    It’d be pretty safe to say that Ocwen Financial struggled the past few years. But, the company got a little bit of good news last week, when a judge dismissed a lawsuit accusing Ocwen and Altisource Portfolio Solutions of overcharging homeowners for service. The question now becomes are the company’s next steps forward? Backward? Or right into the eye of another storm? All that and more in your Monday Morning Cup of Coffee.
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