PHH Mortgage

PHH Mortgage Reviews

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About PHH Mortgage

PHH Mortgage (NMLS #2726) has provided mortgage services and financing solutions for more than 30 years. PHH Mortgage offers a variety of loans for home purchases and refinancing and provides assistance from experienced loan officers. Its website also has mortgage resources, including educational articles, checklists and loan calculators.

    Pros & Cons

    Pros
    • Variety of purchase and refinancing loan types
    • Available nationwide
    • Online tools and resources
    Cons
    • No fully online application
    • No home equity loans or HELOCs

    Featured Reviews

    Verified
    West Palm Beach, FL

    PHH Mortgage really cares for the clients. I have been a customer for a while and any time I had a problem they made me feel I had nothing to worry about and reassured me they wou...

    Read full review
    Verified
    Phoenix, AZ

    Overall, we had a good experience. However, the one problem that we had was: when we closed, we were suppose to get our August payment back. Instead, they incorrectly rolled it ov...

    Read full review

    Rates

    PHH Mortgage does not publish its starting rates online. In order to receive an accurate rate quote, you’ll need to apply for preapproval by contacting the company. Keep in mind the difference between the interest rate and the annual percentage rate (APR) — the APR includes both interest and fees.

    In 2021, PHH Mortgage had a slightly higher average rate for home purchase loans than the national average, but rates can vary significantly based on the borrower’s financial status and other factors.

    PHH Mortgage does offer adjustable-rate mortgages, which are more popular during times when rates are high due to lower starting interest rates.

    PHH Mortgage average home purchase rate vs. national average

    Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

    Application process

    You can start the preapproval process with PHH Mortgage online or over the phone. If you choose to do it online, you’ll need to answer six short questions, including the type of mortgage you’re applying for and the loan amount you’re seeking.

    From there, a loan officer will contact you directly to gather more information. Be prepared to answer questions about your income and assets; you will also need to submit documentation to verify this information (like W-2s and bank statements). After you receive preapproval, you can use the online borrower portal to see the up-to-date status of your loan.

    PHH Mortgage application features

    Loan types

    PHH Mortgage offers several mortgage products, including conventional loans (ARM or fixed-rate), government-backed loans (like FHA and VA) and jumbo loans for those who need to borrow beyond the conforming loan limits set by Fannie Mae and Freddie Mac.

    You can also refinance with PHH Mortgage, whether you’re aiming to cash out, get a lower interest rate or shorten your loan term. The company offers 15-, 20-, 25- and 30-year terms on its conventional loans.

    In 2021, the company closed on 124 home purchase loans out of 355 applications (35%). It denied 145 applications (41%).

    Loan applications for home purchases only by year

    Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

    Refinancing

    The vast majority (over 98%) of loans PHH Mortgage originated in 2021 were for refinancing and cash-out refinancing. Among all lenders, refinance loans, including rate-and-term refinances and cash-out refinances, made up about 58% of loans originated in 2021.

    Home purchase vs. refinance loans by year

    Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

    Requirements

    Each type of loan PHH Mortgage offers has different eligibility requirements for things such as credit score, income, debt-to-income (DTI) ratio and property type. Before you apply for preapproval, a PHH Mortgage loan officer can help you determine which loans you are eligible for and how much you can borrow.

    PHH Mortgage doesn’t disclose many of its loan requirements. However, most lenders require a 620 credit score to be eligible for a conventional loan; FHA loans require a credit score of at least 500 to 580.

    Jumbo loans typically require higher credit scores  — at least 680. PHH Mortgage does state that most FHA loans and VA loans require a 3.5% down payment. A conventional loan typically requires at least a 3% down payment.

    National mortgage requirements by type

    At the time of publishing, PHH Mortgage does not offer USDA loans. For information on this type of loan, read our guide on the best USDA-approved lenders.

    Cost and fees

    PHH Mortgage does not publicly disclose costs and fees associated with its loans, but as part of your application, you will receive a Loan Estimate. This three-page form explains all the costs and fees of your mortgage, including closing costs.

    FAQ

    Does PHH Mortgage accept cards?

    Yes. You can pay with a Visa, Mastercard or Discover card. You can also make payments through Apple Pay or your bank account.

    How does PHH Mortgage work?

    You can start the application process online by answering six short questions. The PHH Mortgage team then contacts you and walks you through the homebuying or refinancing process. Its representatives help customers understand different types of loans, down payment options and closing costs. You can then apply for preapproval and use PHH Mortgage’s online portal to track the status of your loan, from the time you get an accepted offer through closing.

    Is PHH Mortgage legit?

    PHH Mortgage is a legitimate mortgage company available throughout the U.S. It offers a variety of loan types for homebuyers and owners looking to refinance existing loans.

    Where is PHH Mortgage available?

    PHH Mortgage is available in all 50 states and Washington, D.C.

    PHH Mortgage Reviews

    Stars Rating

    • 14%
    • 13%
    • 5%
    • 2%
    • 66%

    Popular Mentions

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      How do I know I can trust these reviews about PHH Mortgage?
      • 4,476,427 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10
      Customer ServiceStaff

      Reviewed June 18, 2024

      PHH of the four mortgage companies that have had my house, I have never had such a terrible experience, such poor management of my escrow funds, nor have I ever had such poor customer service, rude, indecent, contemptuous and sarcastic as the agent. PHH agent code ** if I remember correctly his name Alvin. These people took money from my funds and sent it to the wrong insurance account and now they don't want to take responsibility and return it.

      Customer ServiceStaff

      Reviewed May 2, 2024

      As many have said here.. customer service does not exist. If this company really cared… they would recognize these reviews and change this terrible experience we have with PHH Mortgage. They have a call line offshore in India. The people on that line only speak a script, say they’ll call back with answers and never do. It is up to you to follow up and then it’s the insane cycle again and you get nowhere. When I refinanced, PHH bought the loan. It is a horrible company to represent you.

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        Customer ServiceStaffRates

        Reviewed April 30, 2024

        Absolutely horrible company. I recently had new flood plain maps drawn from FEMA showing that my property no longer requires flood insurance. I submitted these document to PHH via their worthless website where you are suppose to upload such documents. A few days later, after speaking with the flood insurance company and submitting the same documents to them and they validated that the property no longer required insurance, I called PHH to confirm that they received the documents and would update their records.

        First, they said that they "did not receive" the documents. When I told them that I work with computers everyday and I was sure that the documents were uploaded, they put me on hold for 10 minutes, and MAGICALLY found the documents! But now....they needed to "review the documents, which can take up to 10 business days." About a week later, I received a letter from PHH saying that they had "reviewed" the FEMA documents and I still needed flood insurance! I have a great flood insurance company (Flood Simple), and, after talking with my agent about this, SHE called PHH and was basically told the same thing. She argued that it seemed strange that an insurance company AND A FEDERAL AGENCY said the property did not require flood insurance, but they did!

        So....we determined that the easiest course of action (and to avoid PHH from purchasing overpriced flood insurance as they threatened to do in the letter) would be to re-instate the flood insurance policy for the next year, and maybe try to fight with them again in 2025. So....a new insurance policy was re-instated on April 16, 2024. But then....on April 24, I received another letter from PHH which was dated April 16. It started that they "no longer require flood insurance." Absolutely unbelievable. I have been with this company for close to 10 years, and luckily have really never had to do anything but pay the monthly mortgage payment. If I did not have a 4% interest rate and have to almost double that to re-finance, I would be gone in a heartbeat!

        But if you are looking for a company that is great at customer service, PLEASE DO NOT GET A MORTGAGE WITH PHH MORTGAGE! Oh, and good luck trying to push the right numbers on your phone to navigate their worthless voice-mail system I spent 5 minutes pressing buttons and then spent a minimum of 15 minutes on hold to finally talk to a human. Oh, and I am not prejudice, but I finally had to ask for a representative from the United States. They love to read things off a script and spend a lot of time apologizing and thanking you instead of listening to their customers. And since my insurance agent had the same issues, I do not feel that I am exaggerating any of this. STAY AWAY AT ALL COSTS!

        Reviewed April 25, 2024

        I would say as far away from this mortgage company. As you can period I paid off my mortgage. They were supposed to send me x amount. They took $2500 more and it's. I will never see that money and it's not right. It's not worth fighting over and get an attorney. Stay far far away

        Customer ServiceStaffLoan Process

        Reviewed April 25, 2024

        - [ ] I’m a Mortgage Loan Holder since 2021. We are selling our property, and called ahead to inquire if our loan was assumable for a potential seller. They would not give me any details aside from this, just that it was without submitting a formal name and application for the Formal Assumption. They clearly told me that it was. After a potential buyer put an offer in, PHH then told me that they were submitting an application once I called in with the name. A week and a half later, I called to inquire on where the mailed paperwork was, and they told me two excuses, one being that it must be a family member, even though they won’t show me in writing disclosed previously where this is stated in my policy that I had prior to the application.

        Now, it has put everyone is a difficult position. The assumption team only has an email, and they take 7-10 business days to respond to your email in their queue, responding with 1 word sentences. A simple reply takes another 7-10 days. The worst experience of any lender I’ve ever dealt with. Taking legal action against them!

        Punctuality & Speed

        Reviewed April 20, 2024

        I currently have a tax lien on my property because PHH Mortgage refuses to pay the property taxes on my property. I’ve been calling and emailing since Jan there has been no resolution. I’m worried, stressed and anxious because I never thought someone who pays the bills on time would lose their home after making on time payments every month and keeping my mortgage. I wish I never had anything to do with this company and it willl be a relief when my account gets sold to a reputable company. Their good gel reviews are even worse this has been an ongoing problem and the fact they’re has been no resolution is ridiculous. I wish there was a zero stars button. They don’t deserve a one

        Punctuality & Speed

        Reviewed April 9, 2024

        My insurance premium for 2023 was unpaid by PHH after they got 5 copies of the invoice over 1 1/2 months. 3 days after the policy expired one of their supervisors told me to "send the invoice again and they would open the email the next day and look into paying it." I had to pay it myself. It took a month to get half reimbursed then another month to get the rest. Since I had to come up with over $2,000 myself I informed them we were going to do a 3-month deferment with those payments due at the end of the loan term. They approved that after a couple months of lies about how that was not a thing. After the 3 month deferment I went back to paying on time and in full as always and they started sending me collection letters saying I was 3-5 months behind. In December 2023 I got the invoice for the policy renewal and sent it to them. I told them to pay it ASAP. They said they wouldn't pay until the Jan 15th due date.

        Since I knew that was the same lie as a year prior, I paid the premium myself and informed them that the Feb payment would be short by the amount I had to pay on their behalf. Around April 5th they sent me a copy of that Feb payment check and said they destroyed it and now I'm another month behind. When I asked the "supervisor" what he expected me to do if the building burned down while they caused me to be uninsured he said "just send them the premium then and they will cover the property." I have wasted close to 30 hours of my life over the last 16 months trying to get them to do the right thing and they do nothing but LIE LIE LIE. For every future mortgage I will be asking the lender to confirm that they will never send my account to phh. If they are unwilling to put that in writing, then I will refuse to do business with them. I advise you to do the same.

        Customer ServiceStaffLoan ProcessRates

        Reviewed March 15, 2024

        We had a reverse mortgage with PPH for almost 10 years. Throughout the loan, it was always very difficult to get to information either online or over the phone. After substantial changes in the interest rates, the interest was now eating up the credit and equity in our home so we decided to pay it off. It has now been over 45 days since they received the payment... They will not provide the final statement of accounting, the original note of instrument, the note marked paid, or a refund of our overpayment. Phone call after phone call just gets "We don't have to pay refunds, just check back next week for whatever else you are looking for." They say there is no access for customers to the payoff department, none of the customer service reps have anyone else they can ask or have no supervisors. A complaint is filed with our state Department of Finance and the Attorney General's Office at this point and we still have none of the legally required documents.

        Punctuality & Speed

        Reviewed Feb. 2, 2024

        In December 2023, I received notification that a tax lien had been purchased on my home due to an outstanding property tax payment. I contacted PHH on three separate occasions and every representative confirmed the taxes had been paid for 2023, 2022, and 2021 and further back. I called my county tax office and learned the second payment for 2022 was returned because PHH made it using a check and the tax office only accepts wire transfers (which is how the payments had previously been made). The county tax rep urged me to pay the attorney to release the lien and pay the outstanding tax bill if I was able because the attorney could start foreclosure proceedings because I was outside of the 4 month timeframe where the bill could be settled without additional steps being taken.

        I contacted the lawyer and requested the lien payoff amount and sent it to him. He then emailed me, PHH, and the county tax office stating the lien had been paid so now the tax bill could be paid. However, the release of the lien was only good for 10 days after which, additional fees could accrue. I spoke to a fourth PHH representative who then confirmed that the second payment for 2022 had been returned and they placed the money back into my escrow account with a 'tax refund' note. At no point was I notified about this when the supposed refund occurred. A simple review of the 2021 property tax bill should at the very least make them wonder why a check would be returned for overpayment and do further research.

        I finally spoke with an escalation manager who was working with the tax department to get the outstanding taxes paid; he also informed me a check had been mailed to me to cover the attorney fees I paid on the lien release. In mid-January, a PHH rep called to let me know the taxes (along with interest and penalty fees) had been paid by PHH; however, when I inquired again about the status of the attorney fees, I was informed that check had actually been sent to the lawyer who purchased the lien.

        At that time, I contacted the lawyer and he informed me that he only received my certified check. After two additional conversations with escalation managers, I was informed that because I paid the lawyer myself, I would NOT be refunded. Yet PHH seemed to attempt to pay the lawyer but someone they won't refund me for money I paid out for their negligence. PHH has failed in their fiduciary responsibility to ensure my escrow payments are disbursed on time and maintained to include any and all fees accrued for their mistake.

        Staff

        Reviewed Feb. 2, 2024

        PHH makes me want to puke!! I hope when they all die they are locked out of God's home for what they have done to so many people just to get richer! Go to hell all of PHH mortgage workers. You all deserve a special place in hell! They lie, they cheat, they act like they are working on your problem. You pay and pay and they don't apply your payments. You show proof you paid and they are going to fix it but they DON'T and never planned on it! I'm like a wild maniac when I hear PHH for what they have done to so many people. Cheat! THIEVES! Fraud! Liars! They destroy lives and don't bat an eye! They kill dreams and sleep well at night. If you read this and think all these people must've missed payments or something and they deserved it THINK AGAIN!!!! NOT SO.

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          Sources
          ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page . Specific sources for this article include:
          1. Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Aug. 23, 2022.

          PHH Mortgage Company Information

          Company Name:
          PHH Mortgage
          Year Founded:
          1984
          Address:
          P.O. Box 5452
          City:
          Mount Laurel
          State/Province:
          NJ
          Postal Code:
          08054
          Country:
          United States
          Website:
          www.phhmortgage.com