July 23, 2014 7:54 AM ET

Thrifts and Mortgage Finance

Company Overview of PHH Mortgage Corporation

Company Overview

PHH Mortgage Corporation provides mortgage services for real estate companies, investment firms, banks, credit unions, and relocation professionals in the United States. The company originates, processes, closes, and services mortgage loans. It offers correspondent lending, private label solutions, loan subservicing, and relocation services. PHH Mortgage Corporation was formerly known as Cendant Mortgage. The company was founded in 1989 and is headquartered in Mount Laurel, New Jersey. PHH Mortgage Corporation operates as a subsidiary of PHH Corporation.

1 Mortgage Way

Mount Laurel, NJ 08054

United States

Founded in 1989





Key Executives for PHH Mortgage Corporation

Age: 53
Chief Executive Officer of PHH Corporation and President of PHH Corporation
Age: 52
General Counsel and Vice President
Senior Vice President of Servicing
Senior Vice President of Private Label Solutions
Compensation as of Fiscal Year 2014.

PHH Mortgage Corporation Key Developments

PHH Mortgage Reaches $6.3 Million Settlement with New Jersey AG

The New Jersey Office of the Attorney General announced Dec. 4 that the acting attorney general, John Hoffman, and the Division of Law Director Christopher Porrino have entered into a $6.3 million settlement with PHH Mortgage Corp. The settlement resolves allegations that the company misled homeowners who sought loan modifications or other help to avoid mortgage delinquency or foreclosure. It includes $3.6 million in restitution payments, which must be paid within 30 days of the settlement's effective date, to approximately 2,000 borrowers nationwide whose loans are serviced by PHH Mortgage. The balance will be paid to the state of New Jersey. Another condition of the settlement requires PHH Mortgage to provide the state with detailed information about its activities related to, among other things, mortgage modifications and foreclosure actions on a quarterly basis.

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