Rutledge Part Of $45 Million Settlement With PHH Mortgage Corporation

LITTLE ROCK – Arkansas Attorney General Leslie Rutledge announced today that she, along with attorneys general from 48 other states and the District of Columbia and more than 40 state mortgage regulators have reached a $45 million settlement with New Jersey-based mortgage lender and servicer PHH Mortgage Corporation.

The settlement resolves allegations that PHH, the nation’s ninth largest non-bank residential mortgage originator and servicer, improperly serviced mortgage loans from January 1, 2009 through December 31, 2012.

The agreement requires PHH to follow comprehensive mortgage servicing standards, conduct audits and provide audit results to a committee of states.     MORE

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