PHH Mortgage

PHH Mortgage Reviews

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Written by Jennifer Schurman
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Edited by Cassidy McCants

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

PHH Mortgage details

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

YearDifference from national average
2021+0.54%
2020+0.23%
2019+0.29%

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

FeaturesAvailability
Online applicationX
Online applicationX
Physical branchesX
Publishes minimum rate on websiteX
Rate lock60 to 90 days
Pre-qualification (no hard credit pull)X
Certified approval letterAvailable
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

202120202019
Home purchase applications355251314
Home purchase loans closed12497122
Home purchase applications denied149106110
Home purchase preapprovals denied000

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

202120202019
Home purchase loans1.26%1.70%4.11%
Refinance loans45.86%55.17%28.62%
Cash-out refinance52.88%43.12%67.27%

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

Min. credit scoreMin. down paymentCompare with other lenders
ConventionalTypically 620Typically 3%Mortgage lenders
FHA5003.5% with 580 credit scoreFHA lenders
VASet by lender (often 580)0%VA lenders

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.

Featured Reviews

West Palm Beach, FL
Verified purchase
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...

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Phoenix, AZ
Verified purchase
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...

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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.

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PHH Mortgage Reviews

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    How do I know I can trust these reviews about PHH Mortgage?
    • 4,628,533 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Verified purchase
    Punctuality & Speed

    Reviewed March 7, 2025

    The reason I looked up the reviews was to see how many other customers had experienced the same issues I have. My loan began around 2005 for approximately $60,000 or less when I recovered my childhood home for my parents, both of whom are now deceased. Over the years, I’ve noticed my monthly payments have increased from $635 to nearly $1,000 per month. Despite making payments on time, the escrow account is consistently negative, and only a small portion of my payments goes toward the principal. After nearly 20 years, the principal balance is still around $30,000 or more. I am completely baffled.

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    Response from PHH Mortgage

    We sincerely apologize that your experience wasn't what you expected. Thank you for bringing this to our attention. Your feedback is incredibly valuable as we work on improving our service. We'll be sure to evaluate your experience and explore ways to enhance our offerings. If you're open to it, we may reach out to you via phone or email to gather more details and see how we can further assist you.

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    Staff

    Reviewed March 6, 2025

    Horrible service. My insurance, according to PHH did not meet their standards. I was asked to find another company, which I did. After getting the insurance, I received a letter advising, the insurance needed to be back dated to 1/21/25 or I'd be charged 158.00. At no time did the agent I spoke to initially advise of back dating. Nevertheless, agents are incompetent and you get the run around. Plus their English is difficult to understand and they get annoyed when asked to repeat themselves.

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    Response from PHH Mortgage

    We sincerely apologize that your experience wasn't what you expected. Thank you for bringing this to our attention. Your feedback is incredibly valuable as we work on improving our service. We'll be sure to evaluate your experience and explore ways to enhance our offerings. If you're open to it, we may reach out to you via phone or email to gather more details and see how we can further assist you.

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      Customer ServicePunctuality & SpeedLoan Process

      Reviewed Feb. 20, 2025

      Well after reading their reviews it looks like everyone has the same issue. I applied to have my house payment in deferral for 3 months due to a divorce for Sept, Oct, and Nov. I received the deferral letter approval in November and I was told my deferral balance would roll to the end of my of my loan and I would resume my new monthly payments. Well that was a lie and I have been trying to deal with this giant circle jerk ever since.

      Their international customer service that I had to deal with in whatever foreign country is a joke. Those people don't have a clue about anything and can only read a stupid script that doesn't get you anywhere or answer any of your questions. I was suppose to go back to making my normal monthly payment in December but I couldn't because I had to pay the entire deferral balance which that was the whole point of the deferral.... I wouldn't have to pay my house payment so I could pay lawyer bills and "LIVE".

      Fast forward to January, they had me refill out the deferral application in December which was intern was approve in January again right before we closed on our house so now it doesn't even matter. Now my house is sold and I'm trying to purchase a new home and we are suppose to close in 2 weeks and I can't get a loan because they are reporting a 120 day past due on my credit.... In 18 years of owning a home I have never had a late payment and have never dealt with a company that was this big of a joke.... If you are thinking about using them, RUN AWAY!

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      Response from PHH Mortgage

      We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.

      Customer Service

      Reviewed Jan. 28, 2025

      Worst customer service!!! Please Google this company and read all the reviews.... They really suck. When you call there you are directed offshore. Very sad... Nobody knows how to handle customer service.

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      Customer ServiceStaff

      Reviewed Jan. 28, 2025

      Honestly, these people are either breaking the law or they are walking the fine line of doing so. This company does not believe in giving their customers multiple payment options. It always seems to be more of an issue when they change their name. They have had 4 name changes. The customer service is non-existent and their representatives are liars.

      During this most recent name change, they have canceled my direct payment that I've had for years and when I went back to add it back online they cancelled it 2 weeks later. When I requested for payment over the phone, they refused and said that they need an amended note. Their agents don't have access to do anything. They are also liars because the people that talks to customers are not PHH employees, but they will lie and say they are. They are contracted service people that I did not authorize PHH for these 3rd party people to have access to my sensitive information.

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      Customer Service

      Reviewed Jan. 14, 2025

      I have called over and over and no resolution and now my home is foreclosure. I have payment and they are refusing to take and constantly giving me the run around. They offered mortgage assistance, made me fill out a form and send in documents just for no update after weeks and then they tell me, I have to do it all over again. I have requested a call from the supervisor, and we are going on day 5 and no callback has been received.

      Everyone in customer service provides you different information and no one seems to leave notes of the previous conversations. They have told me on a recorded line that I should wait to for the response to mortgage assistance before making payment and now my account is in foreclosure. I just want to make a payment and reinstate my loan at this point. I need justice against this company because I can not lose my home. I need help, they are the worst company.

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      Response from PHH Mortgage

      We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information

      Customer ServicePunctuality & Speed

      Reviewed Jan. 8, 2025

      Their autopay started failing and kept on charging me late fees for their own system errors. Customer service keeps on denying fault when there is clearly a bug in their software. PHH Mortgage needs to exercise more integrity and stop cheating their customers. And yes, fix their bugs also.

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      Response from PHH Mortgage

      We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.

      Customer Service

      Reviewed Dec. 16, 2024

      PHH violates the law in multiple ways. They are the worst mortgage servicer in the nation. They keep changing their name to avoid litigation and law. They were once Ocwen, now PHH, New Rez, and now they are changing to Onity. The Relationship manager is never available (Gabriel **), never answers the phone nor returns promised phone calls. They use foreign call centers with people who can barely understand, let alone speak English. They make promises to call and deal with issues, but never call you. Anyone would be crazy to have a mortgage with them.

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      Response from PHH Mortgage

      We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.

      Staff

      Reviewed Nov. 8, 2024

      Worst ever. They are criminals masquerading as mortgage servicers. DO NOT GIVE THEM YOUR BUSINESS. Bankrupting my poor mother all the while gaslighting and deceiving her. They are inhuman monsters. RUN!

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      Response from PHH Mortgage

      We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information

      Customer ServiceLoan Process

      Reviewed July 23, 2024

      I rarely write a review online but it seems this is uncontrollable anymore. If there is a 0 rating for them or negative rating I would give them. My previous lender sold my loan to PHH and then from the first day a problem occurred already. They are claiming that they did not got my payment but my bank manager told me they got it. The issue last until present still they haven’t resolve. It’s been 3 months I called them every week to follow and able to escalate to their escalation manager the same so I can’t wait to be refinanced so that I could get out from this horrible experience with this lender.

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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