PHH Mortgage Corporation
Mt Laurel Township, New Jersey
United States - 08054
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PHH Mortgage is a very dishonest and corrupt organization to deal with. After declining me for a refinance in July of 2010 they told me that I need a loan Modification not a refinance on my loan with them that was at almost 7%. With current rates under 5% I just wanted to get the current market rate on the property. When I contacted the Loan Mod team they said the process would take a couple of months. I submitted my loan modification in August of 2010. After repeated calls they finally confirmed that they had everything in September. I called in every other week to confirm that the file was still moving forward and was always assured everything was still in and "under review". Then I receieved a letter from PHH 3 months later asking for additional information. I immediately sent them the additional information and then after repeated calls they confirmed everything again was in and "under review". After 6 months PHH called me and said they needed a new hardship letter and updated information. Basically I had to start over with the entire process. So in February of 2011 I sent a new hardship letter and all my paperwork over once again. Again I was told they had everything only to be told a month later that I needed additional information. I called in every week and was always told everything was in and it was under review and several associates even told me they would "escalate" my file and how they couldn't believe it had been going on so long. Finally in March I receive a letter threatening to drop my file from consideration because I didn't provide the proper documentation to them. I once again called immediately and sent everything that was requested in. I confirmed with 3 different agents that once again everything was in. Once again they asked for more information. After 9 months of this I was finally told they were unable to work with me, because I didn't qualify for HAMP, but that they would now review it internally for a modification. Then a week later I was told the file is no longer under review.
WHAT A HORRIFIC EXPERIENCE. I have never ever dealt with a bank that is so incompetent and dishonest in my life. They continued to run me around and get me to send paperwork on top of paperwork and gave me mixed answers on the phone. I spent hundreds of hours on this process and in the end the result was Nothing.
These people are ridculous! I have recently refinanced my loan (That is with them). They took so long almost 3 months to process, asking me for paperwork every day. Even though they already had it. Finally we set a closing date. FIVE minutes before the closing they call and say the loan isn't ready to close! I was livid! They rescheduled the closing for the following Monday. A half hour before the closing they called and tried to cancel again! I put up so much of a stink that they sent someone to do it that night at 8:00! While this whole mess was going on, I had to make a mortgage payment so that I wasn't delinquent on my loan. They assured me that I would receive all of the funds back since the payoff was already quoted. Once the loan was paid off I called to see the status of my refund. One girl told me my refund would be $1800.00 and it would be coming in 10 business days. Well, 10 business days came and went and I called to see what the issue was. They told me the rfund would be $1500.00 and it would be 15 days until I got it. Once again no refund so I called the office of the president, I got the runaround and finally she explained that it would be up to three months because when I paid the payment they applied it all to escrow so they needed to run an analysis to see it I was due a refund. I explained sternly that this was nonsense and that I wanted all $1236.00 refunded NOW! Needless to say I am only getting refunded $995 this is a lot less than it was supposed to be! Do not let them foll you. Stay away! I will be contacting Fannie Mae (their backer) to file a formal complaint!
I want to share with you a few facts about PHH Mortgage Services.
A year and a half ago, I applied for a loan modification like most of us and the same scenario happened to me.
I also asked several times for them to provide the information about who is the owner of the note on my loan.
Recently, after correspondences with the Federal Trade Commission, PHH, and the N.J. Attorney General, I got a nice answer from Lori Emdin who is the Presidential Liaison in PHH, stating that the investor on my loan, FANNIE MAE does not allow PHH to offer a modification because I am current on my loan. I provided all necessary documentation showing how severely my income dropped during the recent economic turmoil. In response, I got a letter telling me that since they could not ascertain any financial hardship, I do not qualify for a loan modification.
In 2008, Fannie Mae got an enormous bail out from the government and right now has a new venue to make money by investing in penny loans bought from other lenders. This is the exact reason why a subsidiary service like PHH does everything to break your legs and file foreclosure instead of helping homeowners with loan modifications. Fannie Mae and Freddie Mac do not want to deal with us directly because it would be absolutely ashamed and disastrous to let the public know about the government’s investment to start foreclosure on American’s properties and generate money for them.
SEND YOUR STORY TO THE FEDERAL TRADE COMISSION and THE GENERAL ATTORNEY IN NJ and explain your
situation and ask for an investigation.
ASK PHH WHO IS THE INVESTOR OF YOUR LOAN? YOU WILL BE SURPRISE!
THIS IS A SCANDAL OF THE FIRST DEGREE AGAINST THE AMERICAN PUBLIC
Letter from Federal Trade Commission:
UNITED STATES OF AMERICA
FEDERAL TRADE COMMISSION
WASHINGTON, D.C.20580 December 9, 2010
The Honorable Darrell E. Issa
Attn: Amy Walker
1800 Thibodo Road, Suite 310
Vista, California 92081
Re: FTC File Ref #[protected]
Dear Representative Issa,
Your letter to the Office of the Comptroller of the Currency on behalf of your constituent, Mr. Jerzy Wasowski of Vista, was forwarded to the Federal Trade Commission for reply.
We appreciate Mr. Wasowski’s concerns regarding the problems they experienced with PHH Mortgage Services. As you know, the Commission has been directed by Congress to act in the interest of all consumers to prevent deceptive and unfair acts or practices, and complaints from consumers provide valuable information that is frequently used to develop or support Commission enforcement initiatives. However, as a practical matter, the Commission’s enforcement resources are finite, and we cannot take formal action in every instance. When we receive a complaint, we make an evaluation to determine whether to devote further resources to the matter. As a matter of prosecutorial discretion, we must consider such factors as the pervasiveness of the problem, the extent to which consumers are injured, whether the practice appears to violate the Federal Trade Commission Act, and how the problem fits into our overall enforcement strategy. We will maintain a record of Mr. Wasowski’s complaint in case we receive additional information indicating that further action should be taken.
We appreciate your interest in this matter. Please let us know whenever we can be of service.
Consumer Response Center
This letter is in concerns to phh mortgage (aka: century 21 mortgage, mortgage service center)
1 mortgage way
I have had our mortgage since 2007. I worked at century 21 as was told to go through this company that they were best to deal with. I was given wrong information
This whole ordeal started when I made 2 mortgage payments to them, and they applied to the end of the loan instead of to the next 2 due payments. we then find out (only by looking at my credit) that it was showing us being in past due status? I called the company and they never could tell me why or explain this to me. all that they could tell us is that this could not be reversed and we would be behind.
finally after talking to many employees, I am told they applied to the end of the loan and that it couldn't be reversed and until we could make the extra payment we would be behind or our mortgage! they tell me they are also charging me a $10.00 per day for a late fee. they say there's nothing we can do about this but to pay it.
Our daughter was special needs and required 24 hour a day care so we had an income reduction. I call the mortgage company about the so called “late payments”, who says we can get the "home saver advance"to catch up all late fees/missed pmts. all of our income and debt information was taken over the phone and we were told that we were approved and that we would get the paper work soon.
Once we received this paperwork, we got all of the paper work saying we were approved & this was signed and then sent back to them. we were told to keep mailing our pmts as normal. we did this and they kept “holding payments”. once we contacted them we were told that they didn't get the payment","oh we haven't got it"even though it was mailed 3 weeks before.
We then find out per loss and litigation (per linda) that the checks were there and just hadn't been applied? she said they were there in"loss and litigation"she said she did this for us and the home saver should kick in soon and we will show current and this would be deleted off my credit. I notice in october its still showing late on my credit report? every check that I mailed them, they would wait three weeks or more to apply to my account or would say they couldn’t accept from me.
after many calls trying to find out where the checks that we were mailing them has went to, then they are saying we were now" having the home saver advance pulled” that the program” was retired. I do not understand how they can deny you for a program that you have already been told you were approved for and have all of the paperwork for.
so now we have to” catch up"on 4 pmts (which is what was supposed to be rolled into the home save advance) plus late fees for 4 months that we were charged!?!? at no fault of our own. so now, because of phh my credit took 4 hits showing late, plus we have 4 pmts to make, as well as late fees for 4 months time! we have spoke with people named linda and alex in loss and litigation who said we were"fine". all that I want is I want this off my credit as this isn’t our fault we got approved paperwork, then was told"oh it was retired”, so we pulled it from your acct? how can we get approved in july, but then pulled in october?
After many calls, we were them told per joan that we apparently were "sent the wrong paper work by them and this is why it got kicked out of the system”? we were never notified of this! in calling for months, no one ever mentioned this. joan said a mr. joe hill got our paperwork by mistake and we got his? which is not our fault? it had my name on the paperwork that I signed and returned. not a mr. joe hill.
My husband is military and has been for 10 years now. we will be moving soon and thanks to phh it now looks like we were about to"lose' our home, which isn't true! now, we are messed on getting a new home with my name on it as well as any other loans! this is showing on my credit as late! no one will let us redo our mortgage since the loan was in my maiden name my name must be on the new loan per mortgage loan rules. but, because of phh mortgage, no one can approve me since I am, “past due on a current mortgage”.
we spoke with several people, one names linda in loss and litigation, one names alex, one name porche stevens, one names desiree, one named tanarra and the last one was named joan.
I requested a payoff statement from phh and they said they can not give that information over they phone, only per mail. I get this and the statement says that we owe more now in 2010, then we even financed in 2007. after paying at least $27, 000 to our home over the past few years.
We have contacted the bbb, as well as the ftc. I also have done hours of research on phh mortgage scams and just learned they are doing the exact same thing to me, as they are to thousands of other people. this is something that you should be aware of. hardworking people such as me and my husband, who is serving our country, are getting ripped off by phh mortgage. it is not fair and I do plan on going as high as I possibly can with this so other innocent people such as us will not be ripped off in this major mortgage scam that phh is trying to pull.
Here are a few of the thousands of resources on this exact same company that I have found.
This is an issue that I feel needs to be resolved by the responsible parties, and that is phh mortgage and the fraudulent people in the company.
You can NEVER reach anyone on the phone to ask a question about your loan or about a fee they have charged. If you ever do reach someone, they NEVER call you back, so you never get an answer & you have to call back, get transferred 5x, retell your story 5x & sit on hold again. It feels like there is no one behind the name, that my $ is just going to a big internet black hole.
I applied for a mixed use refinance through PHH mortgage. They approved me and set closing date. However, they later informed me company representative made a mistake and they don't even offer mixed use mortgages. They charged my credit card 500 and refuse to return the money to me. Clearly, a bait and switch scam that they have perfected because once you call them and try to resolve matter they get really cocky and belligerent and basically tell you there's nothing you can do about it.
They have never been able to get the Insurance issues correct, I have Property and Wind Insurance and they continue to say I dont after repeated attempts to send them the policies as well the impounded for Taxes Eight times the necessary amout.
They are impossible to deal with in every regard.
Complaint activity report case # [protected] better business bureau of new jersey
Consumer info: wiles, patricia l business info: phh mortgage services
430 n. mountain rd.
newville, pa 17241
Location involved: (same as above)
Consumer's original complaint :
I was forced to do a ch. 7 bankruptcy in 2008 - and my mortgage was not included in the bankruptcy. I have paid it regularly since the bk, and paid extra fees to get the mortgage back on track (they won't let you make payments until the bk is settled.) when I checked my credit reports, I find that all of them have been told by phh that my morgage was written off with the bk and that I am not making any payments, etc. this is totally false and it is totally ruining any chance I have of getting back on my feet. I have filed complaints with the all 3 credit bureaus and they tell me that I have to get it fixed with phh. I emailed them and was told I had to call [protected]. I tried several times - each time I have to listen to a machine for 10 min. giving options for this and that - then I punch 0 for a csr and I sit forever and nobody ever answers. the one time somebody did answer, I got some idiot from india who couldn't speak let alone understand english. all I want is for them to correct the 3 credit reports to show that the mortgage wasn't written off with ch. 7 and that I am currently paying and up to date on the mortgage. if they can't do that - take the stupid entry off all together and don't report anything. the bbb rates this company high - frankly I don't agree and I will be glad when I can refinance this thing and get away from them. I will never deal with them or era mortgage again - they are trash - a company that hires idiots from another country is not worth dealing with. thank you>
Desiredsettlementid: other (requires explanation)
Product_or_service: home mortgage
Consumer's desired resolution:
I want all 3 credit bureau reports to reflect the fact that my mortgage was not included in my bankruptcy and that I am current and up to date on my payments.
05/08/2010 web bbb case received by bbb
05/10/2010 nanc bbb case reviewed by bbb
05/10/2010 otto email send acknowledgement to consumer
05/10/2010 otto email notify business of dispute
05/25/2010 web bbb receive business response : contact name and title: rose viana, research
contact phone: [protected]
contact email: rose. [protected]@mortgagefamily.com
I would like to apologize for the experience borrower has been going through with her loan. I have verified with the bankruptcy department and she has verified that when a borrower files for bankruptcy it affects all obligations. as such, we should be reporting the loan as a bankruptcy. a review is being done by the credit reporting department to verify what is being reflected on the credit report. as soon as we are provided with the information I will advise. thank you
05/26/2010 bbb more info received from the business : information from the credit reporting department has been received and they state we are reporting this loan as current, discharged chapter 7, and we are not reporting the balance or payment history. this is because when a customer files chapter 7 they must reaffirm with us that the wish to continue paying the debt and not include it in the bankruptcy so that we will then report this as reaffirmed debt. if the customer fails to reaffirm the debt prior to the date the bankruptcy is discharged, we have to report the loan as discharded chapter 7 and the credit bureaus see that as a final stauts for the loan and will no longer report the loans balance and payment history. we are reporting this loan accuratley. thank you
05/26/2010 nanc email forward business response to consumer
05/27/2010 web bbb bbb reviews consumer rebuttal to business response : (the consumer indicated he/she did not accept the response from the business.)
doesn't make any sense. bankruptcy was filed/completed 9/2008 - this is now may 2010. any "affect" the bk had on the mortgage was negated by the fact that I paid them extra for various late fees, etc. I have made the payments each month since - no break. they are not reporting those payments as well as the lie that they were part of the bankruptcy. also, the bankruptcy specifically stated (I can send copies of the papers) that the morrgage was not included in the bankruptcy.
05/27/2010 nanc email forward consumer rebuttal to business
06/03/2010 web bbb received business' rebuttal response : I am very sorry for what the borrower has been through dealing with this issue. I wanted to advise that I just received this rebuttal and have forwarded contacted the supervisor in the bankruptcy department and she will advise shortly with information to report. I am sorry for the delay I am trying to get assistance for the borrowers quickly. thank you
06/04/2010 nanc email send rebuttal response to consumer - new offer
06/04/2010 nanc bbb no consumer response - assumed resolved w/o letter
06/04/2010 otto bbb case closed - assumed resolved
06/05/2010 bbb more info received from the consumer : the information they are giving is wrong. I did sign their stupid eaffirmation papers and I paid extra fees to get it all back on track. I guess this means I have to take this to the attorney general - obviously you are getting paid by them to give them a good report - from the complaints I am seeing on the net for this co, I am not the only one wiht problems with them. I do not want this complaint closed - I want it resolved, not just buried under the rug.
The representatives of this company have forgotten how to be friendly and considerate and seem to have a severe lack of knowledge regarding their jobs. They sound like robots the way that they speak in monotones, they give vague answers to questions, tell me they will mail forms to me but then only mail me a letter stating the forms are also in the envelope but - NO forms. This has happened 3 times.<br />
I am very unimpressed with this company and would NOT recommend that anyone do business with PHH mortgage.
For everyone looking to refinance their home, don't use phh mortgage services. this company, who was originally affiliated with usaa federal services bank, 'use' to be a great customer-oriented company, first class, who we have had four previous home loans through. the last couple of years they have gotten into the business of 'servicing' a lot of these small pop-up banks and loan companies, including some that have awful reputations and many that are responsible for our current home loan crisis, and now have become awful just like them. I guess that is because they are them now.
This is our situation. we currently have our home financed through them and are looking to refinance. we have an excellent credit rating and payment history - never a problem - so should be easy and straight forward to refinance. they always say go to your home mortgage company first because the process should be streamlined, easy, and cheaper.
Called them up and got an ok rate, competitive, but nothing better. when the paperwork arrived, it looked like a school kid had spent the time to complete it. errors everywhere and had a 1% discount fee/points in there. this should have been a loan origination fee. was told all this would be corrected when the final paperwork came.
The main problem other than this incompetency with the paperwork is they ordered one of those drive-by internet appraisals of the home, which came in at the same price that we paid for the home 2.5 years ago. if it had been done correctly that would be one thing, but again it was riddled with numerous errors. the appraiser had no clue what she was doing and had maps wrong, comparing our homes to others far distances away and that were 25 years older, things like that. when we approached phh with all these errors and giving them ample evidence and data to show that corrections needed to be made, they pretty much refused to do anything. just gave us the option that we could pay for a full appraisal if we wanted to. why would we do this for someone who clearly has no clue what they are doing? we inadvertently received e-mail between phh and the appraiser that showed they do not have an impartial relationship, so valuing homes lower than the 80/20 home to loan value ratio is their way to get a nice kick-back in pmi insurance money. when searching on phh, I found other complaints on this and charging the clients flood insurance when they don't need it.
Needless, to say, we said no thank you to doing business with a rude and shady company such as this. we forwarded all this information to the attorney general in our state for review and follow-up as they intend to charge us $500 for a processing fee for a loan. pay a processing fee for a loan riddled with errors? charge us for an appraisal riddled with errors?
Bottom line - don't waste your time or money with this company.
Phh said I needed flood insurance on my home I provided them with a letter from, hamilton twp, njdep, and region 2 dha/fema letters stainf I am not located in a flood zone, they check with what they call third party engineers who states other wise when I asked if I provide them with a loma from fema would that satisfy them I was told when I get it they will see, when asked about reimbursement they said its not upo to them. I dont see how all the documents and notices that I provided them with was not substantial. Ypu would think in this day and time they would rather you pay your mortgage then some usless exspensive insurance that I dont need.