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PHH To Pay $45M In Nearly Nationwide Servicing Settlement

Law360, New York (January 3, 2018, 12:44 PM EST) -- PHH Mortgage Corp. on Wednesday agreed to pay $45 million to settle claims from 49 state attorneys general and the District of Columbia that the mortgage servicer did not properly apply borrowers’ payments and other loan servicing deficiencies.

The settlement, filed in the D.C. District Court, alleges that the New Jersey-based mortgage servicer failed in assisting borrowers to avoid foreclosures, failed to process loan modification applications and other vital documents, and did not properly maintain mortgage servicing and other files, among a host of other alleged...
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