PHH Mortgage Services Review
Author: Rob K. Blake | Date: October 10, 2008 | Filed In: Mortgage Servicing
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: Rob K. Blake
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I just want to back up by saying that Phh formerly cendant are the worst company to deal with…I have been working with loss mitigation or so I thought…until I found out my home was being auctioned off.I was able to stop it and now am trying to investigate this company..they will not call me back and or answer my emails…I had tried to reinstate my loan to no avail I have acrued over $13,000 in their attorneys fees which are ridiculous.If it wasnt for those fees I could have reinstated…but they do not want my money they want my home!!!They should be investigated They have fraudulant practices and are looking to ruin anyone they can.Im sending my info to every federal and government agency I can.This is not right and they should be stopped…plenty of families in the same circumstance.
I just rec’d notice from my 2nd mtg., IRWIN HOME EQUITY, that they had “SOLD” my loan to PHH. This came at the same exact time I had requested a re-negoiating of the loan APR to avoid foresee-able problems (I had just been laid off). I am not late and do not intend to be.
Yet I thought it awfully convenient that when I requested assistance from IHE that my loan was sold. That is why I am investigating PHH to see what kind of company my loan was sold to! Everything I have read today scares the hell out of me as far as PHH/Cendant.
be afraid ..very afraid!!!!
I have had a loan with phh for 18 months. I have never missed or been late with any payments, but I have paid ahead. This last August we received a call from our bank asking why we would be letting our house go to tax auction. Phh was supposed to pay taxes out of an escrow account that they had set up. Phh had not paid the taxes, so we paid our March taxes ourselves in August to avoid tax sale. Again in September we have the same problem. I post today because it is just getting resolved. In December! We only borrowed 45% of property value, and have been paying ahead. I just don’t understand why this continues to be an issue.