PHH Corp

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financebiz

660 Posts

Posted - 07/17/2008 : 11:08:28 AM

Foreclosure moved to REO Dept. The company is PHH Corporation. Has anyone dealt with them? They never answer their phones and no call backs after 4 days.....

We have a deal on the table and was assured by Citizens Bank the deal would still be in process with the REO Dept.

CoralSnake

10815 Posts

Posted - 07/17/2008 : 2:11:43 PM

The name sound familiar, but I have no idea why.

financebiz

660 Posts

Posted - 07/17/2008 : 3:02:03 PM

quote:
Originally posted by CoralSnake

The name sound familiar, but I have no idea why.

It appears that Citizens Bank uses an outside REO Company once a home completes the foreclosure/redemption period.

jstar

710 Posts

Posted - 07/17/2008 : 3:25:56 PM

PHH used to be a decent lender, great to use as a safety lock as they had no pull through ratio. I speculate they may be going through some troubles right now. My opinion is based on their pricing for a conservatively parametered loan scenario..... Yes… It would cost 10.775% (points) to get what is today’s par pricing at every other A paper lender in the market. I would avoid if possible.

Compare 4.875% 360 18.650% $1,323.02 0
Compare 5.000% 360 17.900% $1,342.05 0
Compare 5.125% 360 17.150% $1,361.22 0
Compare 5.250% 360 16.400% $1,380.51 0
Compare 5.375% 360 15.525% $1,399.93 0
Compare 5.500% 360 14.775% $1,419.47 0
Compare 5.625% 360 14.150% $1,439.14 0
Compare 5.750% 360 13.275% $1,458.93 0
Compare 5.875% 360 12.525% $1,478.84 0
Compare 6.000% 360 12.025% $1,498.88 0
Compare 6.125% 360 11.525% $1,519.03 0
Compare 6.250% 360 10.775% $1,539.29 0
Compare 6.375% 360 10.150% $1,559.67 0
Compare 6.500% 360 9.650% $1,580.17 0
Compare 6.625% 360 9.275% $1,600.78 0
Compare 6.750% 360 8.650% $1,621.50 0
Compare 6.875% 360 8.150% $1,642.32 0
Compare 7.000% 360 7.775% $1,663.26 0
Compare 7.125% 360 7.525% $1,684.30 0
Compare 7.250% 360 7.150% $1,705.44 0
Compare 7.375% 360 6.650% $1,726.69 0

ejgoldy

108 Posts

Posted - 07/17/2008 : 4:47:24 PM

PHH is a major private label lender that actually does the originations for many mid sized banks.

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