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A Georgia homeowner was awarded $21 million in a lawsuit against one of the largest mortgage servicers in the nation. The homeowner, David Brash, a U.S. Army sergeant, claimed that PHH incorrectly ...
Between April 30, 1997 and February 1, 2005, PHH was a wholly owned subsidiary of Cendant Corporation (now known as Avis Budget Group) and its predecessors that provided mortgage banking services, facilitated employee relocations and provided vehicle fleet management and fuel card services. [citation needed]
PHH's businesses of mortgage brokerage, relocation services, and fleet management were expected to synergize with HFS's real estate and car rental businesses. [ 25 ] However, later that year, Silverman led HFS into what would prove a disastrous merger with CUC International , a direct marketing company that operated discount membership programs ...
The merger also allows more for both of the companies because PHH Mortgage does do actual new mortgages and refinance rather than Ocwen before just doing servicing of loans. On October 4, 2018, Ocwen Financial completed its acquisition of PHH Corporation [19] and is now a wholly owned subsidiary of Ocwen Financial Corp.
While New Century's problems became public news in February & March 2007, primarily as a result of the pullback of more than half of its 11 warehouse lenders, (who funded New Century's loan closings until they could be securitized), mortgage insiders heard rumors of New Century's loss of some of its (wholesale/warehouse) lines of credit as ...
Bankruptcy proceedings can give you some much-needed breathing room, but they also come with serious financial ramifications — including, potentially, for your home. Exactly what happens to your ...