PHH reaches nationwide settlement over mortgage servicing

Source: Ben Lane, HousingWire

PHH Corp. will pay $45 million as part of a nationwide settlement over mortgage servicing and foreclosure issues during the housing crisis, announced a group of nearly every state attorney general.

PHH borrowers whose homes were lost in foreclosure during that period will qualify for a minimum $840 payment, while borrowers who faced foreclosures that PHH initiated, but did not lose their home, will receive a minimum $285 payment.

 

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