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PHH Moves Forward With Updated Servicing Standards

first_imgHome / Daily Dose / PHH Moves Forward With Updated Servicing Standards Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily January 3, 2018 1,506 Views In a statement released Wednesday, PHH said they will implement new servicing standards as part of a settlement with a multi-state group of state attorneys general, as well as following a “testing and reporting process to ensure compliance with the Servicing Standards for a period of three years.”The $45 million settlement was reached between PHH and the Multi-State Mortgage Committee, a group consisting of state attorneys general from every state except New Hampshire, as well as mortgage regulators from 45 different states.PHH’s statement read that they “ … have agreed to resolve concerns raised by the MMC arising from its servicing examination conducted in 2010 and believe that settling this matter is in the best interest of PHH and its constituents. Our decision to resolve this legacy matter under the terms of the settlement agreement and consent orders is not an admission of liability or that we violated any applicable laws, regulations or rules governing the conduct and operation of our Servicing business during the relevant time frame.”PHH also said that, while they would adhere to the mandated servicing standards, but that they largely already line up with PHH’s own current internal servicing standards. “We have made and will continue to make the necessary enhancements in our operations to ensure we remain compliant and continue to serve our customers in a fair and appropriate manner.”In a Wednesday press release, New York Attorney General Eric T. Schneiderman said, “The foreclosure crisis continues to devastate communities across New York. We have zero tolerance for the types of practices that helped create the crisis—and will hold mortgage companies to account.”The complaint by the attorneys general states that, during the period between January 1, 2009, and December 31, 2012, PHH “threatened foreclosure and conveyed conflicting messages to certain borrowers engaged in loss mitigation.” PHH is also accused of charging unauthorized fees for their services. The settlement does not address any conduct occurring in 2013 or later.Of the $45 million settlement, $30.4 million will go to affected borrowers, $8.8 million will go to state mortgage regulators, $5 million will go to states that took lead on investigating and working out the settlement, and $1 million will go toward claims administration.Borrowers who lost their homes due to foreclosure during the indicated time period will be eligible for a minimum payment of $840. Those who were foreclosed upon, but did not lose their home, will receive a minimum payment of $285. PHH Moves Forward With Updated Servicing Standards  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Average Credit Scores for Potential Homebuyers Dip Next: Rental Property Management: Beware of Fraud Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Journal, News center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Default Servicing Foreclosure Housing Crisis mortgage servicing Multi-State Mortgage Committee PHH Corp. PHH settlement Settlement Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Default Servicing Foreclosure Housing Crisis mortgage servicing Multi-State Mortgage Committee PHH Corp. PHH settlement Settlement 2018-01-03 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Subscribelast_img read more

Quilters honored as NEA National Heritage Fellows

first_imgLatest Stories Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthGet Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Troy falls to No. 13 Clemson Skip Email the author Remember America’s heroes on Memorial Day Plans underway for historic Pike County celebration By Jaine Treadwell Described by the New York Times as “some of the most miraculous works of modern art America has produced,” the quilts are known for their improvisational and inventive quality, often being compared to 20th-century abstract paintings. The Alabama State Council has announced that three Gees Bend quilters, Loretta Pettway, Mary Lee Bendolph and Luch Ming, are being honored as 2015 National Endowment for the Arts National Heritage Fellows.The NEA National Heritage Fellowships are lifetime honors presented to master folk and traditional artist by the NEA. The Fellowship is the United States’ highest honor in the folk and traditional arts. Md: Do This Immediately if You Have Diabetes (Watch) Print Article Barbara Reed, Alabama State Council on the Arts public information officer, said each year the National Endowment for the Arts celebrates master and folk artists that embody the strength and diversity of the national culture.The community of Boykin, Alabama known to many as Gee’s Bend due to its proximity to a bend in the Alabama River, is home to some of the most highly regarded quiltmakers in America. These include Bendolph, Mingo, and Pettway, three of the chief quilters from the oldest generation of quilters who represent this profound cultural legacy. Mary Lee Bendolph, Lucy Mingo, and Loretta Pettway’s quilts have been on exhibit all across the nation, including exhibitions at the Museum of Fine Arts in Houston, the Indianapolis Museum of Art, the Philadelphia Museum of Art, and the Whitney Museum of American Art. Published 3:00 am Saturday, July 11, 2015 Quilters honored as NEA National Heritage Fellows Pike County Sheriff’s Office offering community child ID kits The 2015 National Heritage Fellows will be honored in Washington, DC, at an awards ceremony at the Library of Congress on Thursday, October 1, 2015 and a free concert on Friday, October 2, 2015 at 8:00 p.m. at George Washington University’s Lisner Auditorium. By Blood Sugar Blaster Book Nook to reopen You Might Like Economist: Greece, China hold lessons for U.S. There are lessons to be learned from the economic crisis in Greece and the turmoil in China’s stock market, said… read more Sponsored Contentlast_img read more