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Tag Archives: PHH

Setting the Report Straight

Ocwen released its Q3 2018 operating results today—but according to CEO Glen Messina there is more to forecasting Ocwen’s future than is in black and white.

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Ocwen Ready to Close on PHH Acquisition

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Ocwen announced that it is ready to close on its acquisition of PHH Corporation. Ocwen will acquire all outstanding shares of common stock of PHH for approximately $360 million in cash or $11 per diluted common share.

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Fitch Assigns Additional Servicer Ratings for PHH

After being assigned an RPS3 rating as a residential primary servicer for its prime product in August, PHH was assigned additional servicer ratings by rating agency Fitch. Click through to learn which additional products and operations of PHH were rated and the outlook assigned to them.

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PHH Servicer Ratings Rise

The rating agency recently assigned an enhanced primary servicer rating for PHH. What were the factors that led Fitch to assign an RPS3 rating for PHH’s prime product?

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CFPB vs. PHH—An Unexpected Conclusion

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A years-long legal battle between the Bureau and PHH centered on accusations of illegal kickbacks. Read on to find out why the Bureau decided to drop the case, and what this means for the lender and servicer.

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PHH Names Chief Risk and Compliance Officer

PHH Corporation (PHH), headquartered in Mount Laurel, New Jersey announced that Albert Celini has joined the Company as SVP, Risk and Compliance. Celini will succeed Leith Kaplan and assume the role of Chief Risk and Compliance Officer of PHH Corporation, effective January 1, 2018.

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PHH Names Flanagan SVP and General Counsel

PHH Corporation (PHH) announced that Madeline Flanagan will succeed William Brown as SVP and General Counsel of PHH Corporation, effective January 1, 2018. Flanagan has served as SVP and General Counsel of PHH Mortgage, the Company’s mortgage subsidiary, since 2012. ...

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Freddie Mac MSR Changes Hands; Fannie Mae to Follow?

According to a filing with the U.S. Securities and Exchange Commission on Monday, PHH Mortgage Corporation has closed the sale of nearly its entire Freddie Mac portfolio of mortgage servicing rights (MSR) to New Residential Mortgage, LLC—about 81,500 loans. New Residential picked up the portfolio for approximately $110 million. Of that sum, $101.5 million was attributable to the purchase rights for the Freddie Mac MSR portfolio and $8.5 million was for related servicing advances.

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Ocwen Files Motions Against CFPB

Ocwen has filed three motions against the CFPB in hopes of speeding up a Circuit Court of Appeals decision on the Bureau's constitutionality. The motions arrive on the back of a recent suit filed by the CFPB against Ocwen on April 21. The suit alleged Ocwen committed errors throughout the servicing process and improperly foreclosed on at least 1,000 homeowners.

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D.C. Circuit Rejects Intervention in CFPB Case

The case, as previously reported by DS News, sees New Jersey-based lender PHH Corp. trying to overturn a $109 million penalty issued by the CFPB in June 2015 over alleged violations of the Real Estate Settlement Procedures Act.

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