Additional Information for PHH Mortgage Corporation

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PHH Mortgage Corporation has 22 locations, listed below.

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  PHH Mortgage Corporation

  1 Mortgage Way Mount Laurel, NJ 08054-4637

• 

  PHH Mortgage Corporation

  4001 Leadenhall Road Mt. Laurel, NJ 08054

• 

  PHH Mortgage Corporation

  6000 Atrium Way Mount Laurel, NJ 08054-3918

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  PHH Mortgage Corporation

  2001 Bishops Gate Blvd Mount Laurel, NJ 08054-4604

• 

  PHH Mortgage Services

  500 Ross St Pittsburgh, PA 15219

Headquarters

1 Mortgage Way, Mount Laurel, NJ 08054-4637

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BBB File Opened:

5/14/1984

Years in Business:

46

Business Started:

11/16/1977

Business Incorporated:

11/16/1977

Licensing Information:

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

BBB records show a license number of 8300743 PHH MORTGAGE CORP for this business, issued by State Department of Banking & Insurance

These agencies may include:

State Department of Banking & Insurance

20 West State Street, CN-040

Trenton NJ 08625

(609) 292-7272

http://www.state.nj.us/dobi/index.html

BBB records show a license number of 2726 for this business, issued by NMLS - Nationwide Mortgage Licensing System & Registry

These agencies may include:

NMLS - Nationwide Mortgage Licensing System & Registry

Type of Entity:

Corporation

Business Management

• Mrs. Kelly Brinkley, Manager of Customer Support
• Dico Akseraylian, Senior Vice President

Contact Information

Principal

• Mrs. Kelly Brinkley, Manager of Customer Support

Customer Contact

• Mrs. Kelly Brinkley, Manager of Customer Support

Additional Contact Information

Phone Numbers

• (866) 714-6737
  Other Phone
• (888) 820-6474
  Other Phone

Email Addresses

• Email this Business
  Primary

Additional Business Information

Government Actions

Government Action: BBB reports on known government actions involving business’ marketplace conduct:

Settlement Feb. 17, 2023

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

Ocwen Loan Servicing (OLS) was a limited liability company formed and existing under the laws of the State of Delaware and was authorized to conduct business in the State of California. PHHMC is a New Jersey corporation with its principal place of business in Mount Laurel, New Jersey and is registered  to do business in California. PHHMC is the successor by merger to OLS. 

 

The  California Commissioner of Financial Protection and Innovation is required to examine the records, documents, and affairs of each CRMLA licensee to ensure compliance with the law.

 

 In or about October 2019, the Department commenced an examination of OLS under the CRMLA. As part of the examination, the Department found that OLS undercharged certain borrowers by not timely implementing changes in loan terms . OLS had already self-identified and undertaken measures to remediate the issue by notifying affected borrowers that undercharged amounts would be assessed as a non-interest-bearing lump sum payment due at loan maturity or pay off.

Additionally, during the examination OLS reported to the Department that certain borrowers were overcharged as a result of OLS not timely implementing changes in loan terms after the servicing of mortgage loans was transferred to OLS.  OLS had similarly self-identified this issue and undertaken measures to remediate it by issuing refund checks to borrowers with an overcharge.

 

 Based on the overcharges and undercharges, the Department found that OLS violated Financial Code by failing to maintain policies and procedures designed to ensure accurate and timely disclosures to borrowers, resulting in borrowers receiving periodic account statements that did not accurately disclose interest rates, principal amounts and/or amounts due on mortgages as a result of undercharges and/or overcharges.

 

The Parties are willing to resolve the matters as follows:

MONETARY RELIEF:

1. Civil Penalties a) The OLS Parties shall pay $2,500,000 to the Department for penalties, costs, and fees;
2. Refund Checks: The OLS Parties shall re-issue refund checks to all borrowers in the Overcharge Report who did not previously cash their overcharge refund check, together with a letter notifying each such borrower of the reason for the refund within 60 days of the Effective Date.

Commencing within sixty days of the Effective Date, the OLS Parties shall provide the Department a monthly report regarding the OLS Parties' compliance with the Order.  The OLS Parties agree to not engage in violations of the applicable state and federal laws.

The Settlement is not to be construed as an admission of any liability or wrongdoing by the OLS. The Parties further acknowledge and agree the Commissioner will bring no further proceedings or actions related to matters resolved by this Order, either under the CRMLA, or any other provision of law, except the Commissioner may bring an action to enforce compliance with the terms of this Order.

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Serving Area

• NJ

Service Type

Referral Assistance

• NMLS - Nationwide Mortgage Licensing System & Registry
  NMLS Consumer Access
  Washington DC 20036
  Phone Number: 855-665-7123
  http://www.nmlsconsumeraccess.org/

Business Categories

Mortgage Banker, Financial Services, Mortgage Broker, Real Estate Loans, Real Estate Loan Modification