PHH Mortgage Services Review
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PHH Mortgage Services is a subsidiary of PHH Corporation (NYSE: PHH) and a hybrid company having both a retail lending arm which they service themselves and a significant sub-servicing division which services loans for other lenders. We located four telephone numbers, one website, a list of new lender clients, and a number of complaints against them.
PHH Mortgage Website and Phone Contacts
PHH Mortgage Services Website: http://www.phhmortgagesolutions.com/
PHH Mortgage Services Phone:
(800) 440-8737
(800) 449-8767
(800) 446-0964
(800) 848-6914
Fax: (856) 917-6659
Address: PO Box 5452, or 1 Mortgage Way, Mount Laurel, NJ 08054
PHH Mortgage Services Review
PHH Mortgage Services even though they lend themselves, most likely they are a sub-servicer for the lender you owe. Subservicers are notoriously bad with customer service and it shows with PHH in the shear number of complaints we found.
Their website lists the following lenders as “new” subservicing clients.
Suburban Bank & Trust
First Tennessee Bank
Bank of the Sierra
Comerica Bank
Citizens Republic Bancorp
The Dime Savings Bank of Williamsburgh
Union Center National Bank
UBS
Their website also contains testimonials from executives from BankAtlantic, UMB Bank, Banco Popular (Parent of E-Loan), Provident Bank, Charles Schwab Bank, and Merrill Lynch Credit Corporation so I think we can safely assume at one time they too were clients.
It seems from reading complaints that Cendant Mortgage has a relationship with PHH as well. I can’t determine if PHH owns Cendant, buy whole loans from Cendant, or just services their loans…but their seems to be a connection. Back in 2004 Cendant was shopping for a buyer for the Cendant Mortgage division, so PHH may have been the buyer and therefore now owns all their loans.
PHH Mortgage Services may or may not have the authority to negotiate loan modifications since you won’t know until you call whether they own your loan or are simply servicing it…either way, you’ll have to deal with them on any workouts.
If you are facing foreclosure and want to learn how to negotiate (before you call) with a servicing company or lender, click the link, Stop Your Foreclosure Now!
I searched for complaints against PHH Mortgage, there are many. Click here to see all the PHH Mortgage complaints listed in Google.
BBB Activity on PHH Mortgage Services
“BBB processed a total of 112 complaints about this company in the last 36 months, our standard reporting period. Of the total of 112 complaints closed in 36 months, 31 were closed in the last year.”
BBB lists the following DBA names as well,
Instamortgage.com
Mortgagesave.com
Coldwell Banker Mortgage
Century 21 Mortgage
Era Mortgage Mortgage Services
Instamortgage Services
Mortgage Service Center Stars
See Comments Below to Add/Read Customer Opinions On PHH Mortgage
Author: The Mortgage Insider
Date: October 10, 2008
Tags by Post Complaints, Mortgage Company Reviews, Mortgage Servicing
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I have been working with them since the first of March and have been getting the run around. Missed one payment and they are dying to help me. We will see. Medical expenses have had a large impact on my income. Next it will go to someone higher. Promise.
I have send in a loan modification application because of decrease in my income since early March. Nothing yet, no one can tell me if they are participating in the home affordability plan. I think they would rather people lose there house.
Getting Help from PHH …….. PriceLess because you get none.
They are incompetent on their best day! Have sent a fax for them to change certain authorizations twice now, they claim they can not process a fax for 24 hours. The first fax was a week ago, the repeated fax more than 24 hours ago. They have no email to send them an image.
No one has any authority and you can not get to anyone with authority. They keep saying call back tomorrow. They must be a low cost provider.
These people are as stupid as they come. Back in Jan.09 of no fault of our own, our county taxes were figured way high, and escrow paid the almost $4000.00 tax bill, and wanted to raise our monthly payment of course. To make a long story short, we got our money refunded from the state, and we paid the escrow shortage(not without them threating to foreclose on us) for some unknow reason which none of the customer service people there can explain to us it made it look like we didn’t pay our April mortgage payment, so we sent them the amout to satisy this, and they stole more of that money to give to escrow which made it look like we still owed for April again. Countless phone calls and different asnwers, we sent them more money to pay April mortgage, stole money again from it to give to escrow. Come to find out escrow people forgot to put in an order to say we were caught up on our escrow shortage. Here it is May now and we sent for the 3 time more money for april and may, just looked this morning and they took another almost $300.00 from that to give to escrow. Needless to say I am in tears by now not understanding what the heck is their problem, sick of speaking to Indians that are rude and just want us to make a payment over the phone. We need serious help here.. PLEASE SOMEONE HELP!!
We have financed three homes previously with PHH and had no problems and thought they excelled in customer service. Boy has that changed, and my guess is that this started when they started servicing a lot of different banks and institutions. Originally, the were a subsidy of USAA Federal Savings Bank. Needless to say, we recently made a mistake of going to them to refinance our loan with the lower interest rates. Should be easy, right, since we are currently their clients, have excellent credit and payment history? When the paperwork arrived it was filled (and I do mean filled) with numerous errors that they said they would correct with the final paperwork. They then hired a drive-by internet only appraisal person who we believe is biased to make sure homes come in at less than their required home to loan value ratios…so PHH will charge the client PMI Insurance and get a hit off that. Very similar to the person that wrote above and commented on the bogus flood insurance report so that they could get a kickback on that. The appraisal was again, filled with so many incorrect statements including not even getting the location of our home correct and comparing it to homes not even close to proximity or original value, all to make our home value lower. Needless to say, we backed out of this deal and now they are hitting us with a $500 “processing fee” that we are contesting with the Attorney General of our state for unfair lending processes. Buyers beware of this company!!!!!
What you have described is EXACTLY what we’ve been dealing with- PHH is sub-par in their standards now. We also had a stellar credit rating and seven years of payment history. We also had an “appraiser” who came back with the square feet off by more than 100 feet, plus numerous other errors- just to lower the value of our home to force us to pay PMI again. When we challenged them, they continued to say we had no recourse and they could do nothing, as the appraiser refused to come back to our home. We are also going to contact our Attorney General. Seems like a good class action lawsuit in the making.
I wonder if they are going to participate in the stability housing plan announced yesterday?
Actually I spoke to them yesterday and they have very little information that they can/will disclose at this point, but they ARE participating in the “Home Owner Affordability and Stability Plan”. She (Amor was her name) said they will begin taking applications on March 4.
I would recommend researching the ‘plan’ through a google search…sounds like a lot of ‘we will offer this, BUT’ to me.