Consumer Complaints and Reviews
I have had quite many mortgages with different companies. This one is the worst. Here is how: They force you to have a escrow account for insurance and tax even if your LTV is below 80% or 70% or even 10%. The escrow account is mandatory for the entire time of loan period. They loan the money to charge you interest plus this fee and that fee. But when you loan them money, the escrow account, you got nothing. You loan to them for free.
One time, I accidentally paid the property tax myself this escrow account just the amount of property tax without returning it to me. It took me more than 3 calls and waited for 3 months to get the extra amount in escrow account returned to me. They use these extra 3-month cash flow to sell the loan to other customers. Once you requested to pay off the loan, they still hold the money in escrow account even after the pay-off date. I am waiting and seeing how long they are going to return it to me this time.
Their online website is horrible: buggy and slow. You can't imagine a finance related website can have so many problems. One time I wanted to change my password. It took me one hour on the phone waiting, transferring to different person, kill my internet browser, reboot my computer. All of all, I could not log in my account anymore. The company's customer service is horrible. The people on the other end of phone are robots, or worse than robots. RUN AWAY FROM PHH MORTGAGE AS FAST AS YOU CAN.
After sending in an electronic mortgage payoff amount I was later informed that PHH still charged additional interest for 10 more days while waiting for the funds to clear. Mind you, they had already been in possession of the payoff funds for 5 days when I called yet rather than retroactively apply the funds after their self-imposed waiting period they wanted additional while satisfying their random 10-day waiting period. Additionally, the process of trying to get to someone with a functioning brain was extremely painful after being put on hold at least 10 times. This is a nothing more than a blatant scam to squeeze out a few extra bucks from a really good customer being treated poorly as a result of paying our mortgage off early.
I'm so sorry that USAA sky-hooked their mortgage services to PHH a few years back... it was like night and day. USAA didn't create a hassle at all, while PHH has an attitude that they got you by the balls so screw-you. They messed-up my payment schedule and started charging me late fees early 2016. I called and the guy on the phone verified that PHH was at fault, but 2 days later I got the up-yours letter from PHH in the mail [we're right you're wrong]. After I documented everything and mailed it off to them [took out a day of my time], they did correct the mistakes, but they never confirmed any of it or even notified me that the mistakes were reversed... I had to look it up on their website.
I paid off the mortgage early this year to close the dysfunctional relationship and the cheap idiots didn't even pay to have my county send me the release of the lien. I had to call the County Assessor to find out what was happening. My only hope is more banks drop these fools so the company collapses. I feel for their employees, but not that much... They know they're working for morons and are happy to do it.
PHH has held the mortgage for my home for 10 years. I've been posted overseas for 7 years so have been renting out the home. I have never missed a payment - never been late. The LTV is under 80% but PHH insists my home value is $100,000+ less than the original or current appraisal. I've called that worthless Philippines call-center multiple times, wrote emails and letters over the past 6 months with proof of current value . They have never responded. The PMI payment is just high enough to make continued renting unprofitable. So, I'm selling the house (got two offers in the first week confirming the 80% LTV). If the boneheads at PHH had responded to my inquiries, removed the PMI as they should have, I'd be holding on to the house as a rental and they'd be earning interest for the next 20 years. Instead they prefer to take Insurance company kickbacks from their despicable little PMI scam. Sad.
Ever since these pieces of crap bought our mortgage we've had issues. First, when they bought the loan, we spent MONTHS helping them get the payment from LenderLive, the entire time we had to deal with a back talking customer support woman. They told us we were liars about working w/ LL to get the payment forwarded and they claimed LL didn't send them the check. We had to get scans of the literal check and tracking before they magically found the check "stuck in receiving" - it was a wire transfer. If that wasn't enough, the destination for our check changed, and we were not notified- we kept getting phone calls from collections and were told that we were liars, until they magically discovered (again) that the checks were going to our Escrow.
We also got a phone call from our home insurance to notify us of a late payment because they didn't receive the latest check, lo and behold, PHH ** up the escrow and didn't have the proper information for our insurance company. Just today they called me again because our May balance was $500 higher because they hadn't been setting aside escrow properly, and the payment intended for May was applied 100% to principal. These people are incompetent, rude, bottom-feeders, and I would recommend avoiding them at all costs.
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Our loan was sold to PHH Mortgage since 2015. This is the worst mortgage company as far as trying to make payments. They use a 3rd party system that charges an extra $7.50 per payment if you attempt it over the phone or the web. Links on their website for payment don't work, when you call to get transferred to the billing service it doesn't work either. What kind of company makes it this hard to make monthly payments. Beware, if trying to pay them is this tough, what's going to happen when you need real customer service?
I currently have a mortgage with PHH and was contacted by them for several months about a refi. Well I guess dumb old me assumed that with a few computer keystrokes I would be refinanced... WRONG!!! After months of back and forth I was turned down. My paperwork was sent to me and my credit score was 802 out of a possible 850 and my credit card was charged $742. I agreed to this charge if I terminated the refinancing after it was started... I never did that. They turned me down. So please don't fall this SCAM!!!
PHH is the absolute worst mortgage company that you can imagine. From their horrible mismanagement and disorganization during the underwriting process to the complete and utter lack of customer service in returning our escrow funds. They have done nothing but give my wife and I the runaround. A normal phone call involves waiting on hold for 45 minutes to 2 hours, speaking with 10 or more people (none of which have any answers, or the ability to remedy your issue), lack of accountability in recording any real notes from calls (unless it benefits PHH) etc.
I am now 100% aware of why Key Bank has severed their relation-** with this company. My wife and I will be refinancing as soon as is humanly possible to get out from under this grossly unprofessional operation. FAIR WARNING: If you find that your underwriters are with PHH, go to a different lender. Run, run as fast as you can to someone else. PHH is the stuff that the Devil's nightmares are made of!
I have had my home on automatic payments for 4 years and just realized that PHH stopped taking my payments in February this year (2017). I started getting weird letters in the mail from a loan care company that I did not understand. Then looked at my account to pay and catch up and it won't process my payment because "function is unavailable". I am unimpressed with the lack of communication and my wife was shocked when someone showed up at our house and served us with foreclosure notices... How can I pay if I'm not able to pay or get through to pay this mysterious entity...
My mortgage was sold to PHH mortgage and it has been a nightmare ever since. They continuously lose your paperwork. Due to a family emergency I missed one mortgage payment. The next month they wanted 2 payments they raised my payment 374.00 a month. I was told to apply for homeowner's assistance. They kept losing my paperwork. After 3 months I called to pay what I owed, I was told it was in an attorney's hands. They would not accept my payment. The Atty wanted 2000. I was declined assistance. Was told to appeal and was declined for a totally different reason than the first one.
When I called NY case worker she wanted me to sell my house that I had for 19 years. I declined. I owed 3000 which I had. I didn't have the Atty fees. I was told to get money from my 401k or borrow from my life insurance policy. I told the rep the only way I could get the money from my life insurance was if I was dead. Without my knowledge she called my local police dept and said I was suicidal. I had 3 police officers come to my house and asked me if I wanted to harm myself, which I said no because I didn't. This was done in front of my 2 and 8 year old granddaughters. This company is an absolute nightmare.
I am a court volunteer and I serve as a guardian and conservator. I become appointed by a probate judge, for the elderly or for people who have been deemed incompetent to handle their finances and sometimes all decision making. I have had to try and work with PHH Mortgage, when some of the individuals that I have been appointed to, have PHH as their mortgage holder. I write a letter to PHH with my certified letters of authority with the court order. They have chosen to ignore this court order time and again and refuse to acknowledge that the individual I am serving in this capacity has been deemed incompetent to handle their financial affairs and in some cases, not able to make any decisions on their own anymore.
With the current case I have, I have been trying since January 2017 to get PHH to acknowledge the borrower (my ward) is an incapacitated individual. I have sent the court orders 3 times, have called several times and they still will not talk to me, change billing address or send payment coupons to me. Most of my individuals I serve are, the elderly that have been taken advantage of, suffer from dementia and are already scared they are losing everything. In many cases, these individuals have not paid their bills and may even be delinquent on their mortgage payment putting them at risk of foreclosure or already in foreclosure.
With companies like PHH, that refuse to acknowledge a court order and appointment of conservator, make these individuals more terrified they will lose their home. What is wrong PHH mortgage? Don't the get it! Do they not know a court order when they get one? I will be writing one more letter today, stating that if they do not acknowledge my appointment, I am filing a motion and order to show cause. Let them explain to the judge why they are refusing his order.
I have had difficulty with PHH Mortgage since my mortgage was sold to them four years ago. They recently sent me a letter stating that they were notified that my home was vacant and it is not. We currently owe $112,000 and our property was appraised at $187,000 for our refinance four years ago. It seems PHH mortgage tends to "bully" its customers and find ways to gain a property by unethical ways. I would not recommend anyone to get a mortgage from PHH mortgage. They are not an ethical company.
They have been a nightmare after a couple of months after I closed for my first home. Random fees, surprise overages, made up numbers in shortages and the list goes on. Even worse is their foreign call center. Worst of all is that they don't even listen to what you have to say. I explained to them what my problem was with extremely high shortages even though I did escrow. My taxes went up by $76 dollars and all of a sudden my shortage was $5,800. I called to have them explain what is the shortage is for if it was only $76 dollars. Their unforgettable answer was... "YOU JUST HAVE TO PAY THAT!" I asked them to explain and they just kept telling me was "YOU JUST HAVE TO PAY THAT!"
This is a factual representation of my experiences. Dual tracking and extensive paperwork denied our mod the first time and we hired a document processor then. They finally accepted it after 8 months. They told us not to pay or we wouldn't even be considered for a modification. Dragged their feet and delayed timely processing of the mod. Predatory lending practices and discrimination because of the ridiculously high PMI. I had good credit and so did my co-signer, but I am dark skinned. Redlining just to name a few.
PHH sold my mortgage to another company. Then reported that I was missing my payments because I was sending payment to new lender. These people are idiots. It does no good to try to talk to them. I do not think they understand English.
Have proof that my bank sent payment to the right place and on time. PHH rejected it - sent it back to my bank with no explanation, then claimed they never got it. I have screenshots from my banking statements and other communication from my bank proving payment was sent to the right place and on time. Now I get these phone calls from call center in India I cannot understand and they claim to be from PHH but demands I give them account info when they call me - sounds like a scam. WORST COMPANY EVER, well, maybe apart from Land Home Financial, Chase, or well, I'm running out of options...
Worst customer service not just once but almost every time I call. I wish I would've read reviews before doing business with this company. Oh wait my loan was sold to them and I've had nothing but trouble every since.
PMI removal and multiple delays in processing our loan modification -- We were in anticipation of have our PMI removed soon as the interest-bearing part of our modified loan is at 81.8% LTV. We also have a post loan mod document stating LTV was at 88%. When we received a document on 3/23/2016 stating our LTV is at 96.4% in response to our request to have PMI removed. We were completely "surprised" unfavorably at what they were trying to do here. We feel completely trapped in a $333/month PMI payment to United Guaranty through PHH Mortgage's apparent and then blatant violation of RESPA. Or else why would the amount be so much if it wasn't being divided up among the entities involved? Per our mortgage documents the two balances should remain separate for such calculations.
Also note on this sheet that not only is it the wrong principal balance but also, but it is the wrong language as to what is defined as "late" for their reasons for the denial of the PMI removal. They say "late payments made in the last 12 months," not "late payments of 30 days or more" as it should read. They have been doing things like these mentioned ever since we even tried to get a loan modification, now they are trying the method of attaching the interest-bearing amount to the non-interest bearing amount which is unfair and makes it eon impossible to remove PMI. Just disgusting greed on their part.
I wish I would have check reviews before getting involved with PHH. The loan consultant would NEVER return my emails or voicemail. On more than one occasion, lost my paperwork and I had to resend it. It's been 5 months and we still haven't closed on the loan. I emailed the supervisor and was told, "thanks for the feedback." Nothing was done to get the loan consultant to do his job. I will never use PHH again. And I'm telling everyone NOT to use them.
If you happen to have a loan with them and figure why not refinance, DON'T DO IT. I just had the worst experience where they stalled and ran out the clock on my rate lock even though they had all of my documentation and tried to bait and switch me into a higher rate. Then they charge me a $600 non refundable application fee to add insult to injury after wasting months of my time. Make sure you go to a loan broker who you can trust and they will source you a loan from many trustworthy sources. This one is the worst and lesson learned, there is no efficiency in refinancing with who you already have a loan with.
Do not do business with this institution! Their customer service is HORRENDOUS. They never call back. The people are incompetent and just stonewall you to death. My mortgage was sold to them with my knowledge which is not an uncommon event. They reached out to me last for a refinancing. They have no clue what documents they need. Instead of asking for everything all at once, they drag it out making the process tortuous. We ask them if they need anything else and their response is: "No we have everything we need." A week later they ask for something else. They dragged this commitment process over 4 months causing our rate to expire and now they want to increase the rate from 3.65% to 4.45%! It is criminal. You have been warned.
I started the process 10/12/16... They asked for follow-up paperwork, which was always returned within 24 hours. It was supposed to close early January. I called Matt **, he said he would extend the terms and escalate it. It's now mid-January and there is no return calls or emails. I paid $600 for appraisal and put in many hours and time into this. How do they get away with this? The second round of paperwork increased the closing costs significantly.
Who has a company website called mortgagequestions.com? Someone trying to hide who they are and prevent access to their customer service team. This is a perfect example of PHH. They will not allow you to speak to a human without wading through acres of phone trees. They purposefully try to prevent refis and removal of PMI by making homeowners go through unnecessary hoops including snail mail letter requests followed by illegal denials without any means of recourse or feedback. They pioneered illegal calisthenics. If you ever do reach a live body they are rude and uninterested in what you call for. They want to get you off the phone and take your payment. The worst mortgage servicer I have ever had and I own 5 homes and have experienced at least a dozen mortgage servicers.
I only wish that I could have read the reviews before I decided to go ahead and used PHH for my refinancing. They are incompetent! I applied for a refi back in April and they have been torturing us since. My loan is $200,000 against a $2,200,000 appraisal. I have a 790 credit credit. They have held my mortgage for 17 years with every payment being made on the 1st of the month without exception. We surpass the income test by many multiples... but they still have not approved but they keep asking for more information, more statements. They never call back. It's pathetic. I keep wanting to cancel and go with another lender, but I keep thinking that I am so close, why should I start this process with another lender. DO NOT GO NEAR THIS INSTITUTION! As I said, I wish I could have looked at these reviews before I spent the past 8 months wasting my time and energy and still no commitment.
I have had four mortgages and this company is hands down THE WORST. Their goal seems to be to stall, delay, and otherwise not help. The customer service people on the phone won't even verify a physical mailing address. I called about requesting removal of PMI and I dealt with two different people who refused to assist. I emailed with someone the week before last week who said they had to mail something. It never came. I am finally to the point where I am interested in consulting an attorney if my PMI isn't removed by next week. This company needs to be investigated. No stars, but the system will not allow.
Our lender sold our loan to PHH mortgage, and it has been nothing but a nightmare. They offered to refinance for VETS and then the Vet Administration OK'd our loan, but PHH denied it. They don't like our property, but they hold the original loan! We have NEVER had a late payment and have an incredibly high credit score. They have been rude, sloppy, disrespectful, and dishonest. NEVER, EVER DEAL WITH PHH MORTGAGE!!!
PHH called me, an existing customer, offering a refi opp in MAY 2016. It is now Dec 2016 and I am still being "stalled". Each agent "forgot" one document needed, that agent left the company or was "out sick" then another agent would contact me stating they needed more info. Promises to call me back, and to keep me updated did NOT happen. I told them they were no doubt stalling til end of yr so the refi was no longer beneficial to me, w/ rising interest rates. SEVEN months and it's still not happening. Now they write that they might have to cancel! Now they tell me? Communication with customer is poor.
Tomorrow I am going to my bank to stop payment. I will not give them 1 more dime. Last house my payment in 3 yrs. never went up. This house that PHH has the loan 2 times has gone up. The only way is if my payment goes back down to the payment before. They say taxes and insurance. I will go back to renting. It is not the end of the world. I hope Trump drains this swamp. Stop your payment today.
I decided to go with PHH Mortgage to refinance because they held my original mortgage. WHAT A MISTAKE. It stated in June with a phone call to refinance, it ended in September with two closing. This company has no clue regarding customer service and completed a mortgage in a timely manner. I am a real estate agent and if this happened to my client I would have told them to run. I was told that if I didn't go through with my mortgage I was going to have to pay a application fee for almost 600.00. I kept telling them I didn't want to go forward and they told me to hold on. The mortgage is soon to go to closing.
To make a long story short I finally closed in September. Now it is November and I received a letter that my escrow account is in default and I owe them more mortgage, plus I also receive a letter that they forgot to have me sign a Notice of Cancel Form. If I sign this form I will have to pay the entire mortgage and start all over. I AM NOW IN A BIND. I DON'T HAVE MONEY TO CANCEL THIS MORTGAGE. DO NOT USE THIS PHH MORTGAGE COMPANY.
Like many others who have written on this site, I have had an extremely bad experience with PHH, the most egregious being the negligence on their part of protecting my financial information in the process of obtaining a mortgage. I have written to Texas Congressman, Jeb Hensarling, head of the House Financial Services Committee, regarding the numerous and investigation-worthy issues I encountered as a consumer. I hope my concerns will be addressed at the highest levels as PHH is a multibillion-dollar company with the financial resources and clout to fight any legal issues they face, and even the government as their most recent case shows against the CFPB.
PHH Mortgage Company Profile
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