What Is PHH Mortgage?
PHH Mortgage is a full-service mortgage company that originates, services, and manages residential loans. It operates as a subsidiary of Ocwen Financial and is one of the larger non-bank mortgage servicers in the United States. The company handles loans on behalf of investors and institutions, which means many homeowners encounter PHH after their loan has been transferred from the original lender. PHH works with a range of loan programs, including conventional, FHA, VA, and USDA mortgages, and it also services government-backed loans that have been sold to secondary markets.
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For borrowers, the name PHH Mortgage most often appears on monthly statements, escrow notices, and correspondence about loan modifications. Understanding how the company operates before and after closing can help homeowners avoid surprises and make informed decisions about refinancing, loss mitigation, or simply managing day-to-day payments.
Loan Products and Application Process
PHH Mortgage offers several types of home loans. Borrowers can pursue conventional financing with standard underwriting guidelines, as well as government-backed options through FHA, VA, and USDA programs. The company also works with jumbo loans in some cases, depending on the investor guidelines it follows at the time of origination. Rates and terms vary based on credit profile, loan-to-value ratio, and the specific program chosen.
The application process typically begins with a pre-approval, where PHH reviews a borrower's income, assets, debts, and credit history. Once pre-approved, the borrower submits a full application and supporting documentation. PHH then orders an appraisal, verifies employment and assets, and underwrites the loan before closing. After closing, loans may be transferred to PHH's servicing portfolio, which is where many borrowers interact with the company on a regular basis.
Customer Service and Reputation
PHH Mortgage has a mixed reputation among borrowers. On the positive side, the company is registered with the Nationwide Multistate Licensing System, and its servicers are subject to oversight by state regulators and federal agencies. PHH has received HUD approval for certain loss-mitigation programs, which means it can process forbearance, modification, and repayment plan requests for government-insured loans.
On the other hand, PHH has faced regulatory scrutiny and consumer complaints over the years. The Consumer Financial Protection Bureau and state attorneys general have taken action against the company and its parent entities at various points, resulting in consent orders and financial penalties related to servicing violations. Borrowers should be aware that complaints about delays, lost paperwork, and confusion during the loss-mitigation process are not uncommon in the mortgage servicing industry, and PHH has been no exception.
How PHH Mortgage Compares to Other Lenders and Servicers
When evaluating PHH Mortgage, it helps to compare it to other major servicers and originators. Some competitors focus primarily on origination, while others, like PHH, have large servicing portfolios. Here is a high-level comparison of key attributes.
| Attribute | PHH Mortgage | Context |
|---|---|---|
| Primary role | Originator and servicer | Handles loans from application through payoff |
| Loan types | Conventional, FHA, VA, USDA | Government and conventional programs |
| Regulatory history | Consent orders and penalties | Has faced CFPB and state actions |
| Loss mitigation | HUD-approved programs | Processes modifications and forbearance |
| Customer complaints | Notably high volume | Common in large servicing portfolios |
What to Expect After Your Loan Is Transferred to PHH
If your loan is sold and transferred to PHH Mortgage for servicing, you will receive a transfer notice. The terms of your original loan do not change, but your payment address, escrow details, and customer service contact information may shift. It is important to update your records and confirm where to send payments to avoid late fees or misapplied funds.
During a transfer, some borrowers report confusion about whom to contact for payoff quotes, escrow analyses, or loss-mitigation applications. PHH provides online account access and phone support, but wait times can be long, and documentation requests may be repeated. Keeping copies of every submission and tracking reference numbers is a practical way to protect yourself during the transition.
Tips for Working With PHH Mortgage
If you are applying for a new loan with PHH or already have a loan in its servicing portfolio, a few steps can help the process go more smoothly. Gather all financial documents ahead of time, including pay stubs, tax returns, bank statements, and proof of assets. Respond to document requests promptly, and keep a log of every phone call, including the date, time, and name of the representative. For loss-mitigation requests, submit your application early and follow up in writing to confirm receipt.
Borrowers facing financial difficulty should also explore options outside PHH, such as HUD-approved housing counseling agencies. A counselor can help you understand your rights, evaluate loan modification offers, and negotiate with the servicer on your behalf. Whether you are a first-time homebuyer or a current PHH mortgage holder, staying organized and informed gives you the best chance of avoiding costly mistakes.