Consumer Complaints and Reviews
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.
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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.
I agree with many of the other reviews on this site. PHH is difficult to contact. They do not return calls. They are great at creating excuses for delays. I am hopeful that the refinance process that I started in August will finish next week (Nov). This has been a game of hurry up and wait. I was hoping to do a quick refinance to lower my payment which would help my monthly budget. Instead, I have upped my frustration and maybe my blood pressure dealing with PHH. I hope this process is completed and I also hope to not have created an ongoing nightmare consisting of endless calls and note taking on the phone with PHH. Knowing what I know now, I would have just sucked it up and kept paying my higher mortgage payment.
My mortgage company sold my loan to this company and I have nothing positive to say about them. I tried to sell my property but the market was upside down so I tried for a short sale. Well, I put the paperwork for short sale which was approved in Jan. It is Oct. I have harassing phone calls every day and night. They have rejected 4 offers on the property, I have been through 7 case managers. I have at least 200 pieces of paper that I have received in the mail for updating my account, which I diligently do. But after faxing the paperwork off several times and them stating they haven't received it I have to certify snail mail everything.
I am now trying for a deed in lieu but this is even worse. I am pre approved and now I have been on hold back and forth for 20 minutes because they say once again they don't have my documentation. Oh, and they need my preapproval, which is me stating I want a deed in lieu, okay I am on the phone saying I want one people! Anything to get rid of this house. I have tried everything and kept in contact with them more than them me, but my credit took a 200 point dive and there seems to be no end in site. I have owned this house for 10 years and I can't believe the horrible customer service of this place. Thank god my other house has a mortgage through a reputable bank.
UNFORTUNATELY, OUR ORIGINAL MORTGAGE COMPANY SOLD (TRANSFERRED) OUR LOAN TO PHH MORTGAGE. We have had nothing but frustration ever since. We paid for 1 years insurance on our home 2 months ago and our insurance premiums are escrowed (!) but we got a letter from PHH that said our insurance had expired and they were going to buy insurance for us! Our insurance agent assures us that our insurance has never expired and is completely in place and up to date!
Plus, we tried to go online to set up automatic draft payments, but when we register it rejects the registration with the error code that says the password doesn't meet guidelines! Guidelines say 7 or more characters with letters and numbers only and must have at least one of each. We have tried 5 different combinations within those guidelines and they are always rejected. And, you can't just change the password when it's rejected. You have to go back and fill in the complete registration all over again!
I finally used screwyou1 which is within the guidelines and it too was rejected! I get the distinct feeling that this is only the beginning of sorrows with this company. Next step: I'll send the payment priority mail with a tracking number so I know darn well they got my payment ON TIME! If they hold it and make it late I will at least have some recourse with the credit bureaus! Even though our mortgage is only a few weeks old, we are now looking to refinance to get away from PHH Mortgage! PLEASE avoid this company like the plague that it is!
I received a phone call from PHH mortgage stating that I could refinance my home loan which would lower my rate and payment. This process has went on for about 4 months. I have emails showing that I would be able to skip 2 payments if I refinanced with them. Well 4 months later this process is still in the process. My wife and I signed closing paperwork around 2 weeks ago, then received a call that we needed to resign the paperwork due to an error on PHH's behalf. Due to me being told that I could skip 2 payments I didn't make them and now PHH has reported to the credit bureau that I have a payment over 30 days due.
Mine and my wife's credit has been ruined due to PHH not upholding their end of the deal. I would recommend people finance with the devil prior to even thinking about PHH. They never return your phone calls, tell you information that is untrue, call you everything but a liar and ruin your credit. I will be visiting my lawyers office today. PLEASE STAY AWAY FROM PHH MORTGAGE!!!
All I want to do is switch my autopay to another account, and it's been a very long headache. First they refused to tell me how to do it, then they said I would have to fax my bank statements for the new account - which is ridiculous. Now, they're sending me an account statement in 7 to 10 days. So much hassle.
I tried to refinance with other Bank, but PHH Mortgage never refund my escrow balance. I didn't pay the mortgage, waiting to refinance. The next month I received the mortgage statement with an amount due $1415.72, this includes two months. I send a check for this amount and considered only one payment. It is ridiculous. It is a bank or a group of rovers looking for easy money. I don't have a good opinion about your bank. I don't recommend this bank to anybody.
Many hidden fees. Ambiguous closing cost estimate - could be this, or that, or some other random number. They lock you into the refi as you are responsible for fees if you back out, then the pain begins. Numerous underwriters and processors, they each ask for the same things over and over. They are EST and will call you at 9:00 their time, regardless of what time zone you are in.
After a month, when you are fully invested in the refi and obligated, suddenly something comes up and the refi may not go through. So you have to answer more questions and provide more evidence and it all drags out even though you are expected to give them whatever they want immediately. I cannot wait to get this done, and in time, get rid of these idiots. Absolutely passive-aggressive. I wonder if they want you to back out and just pay the fees. I am worried that there will be a cluster ** with the fees at closing and I will owe a lot more than they have said. How are these dopes still in business? AVOID, AVOID, AVOID.
Had my fixed rate mortgage for more than 11 years without incident. The mortgage payment was only principal and interest as all taxes and insurance are paid directly by me for the entire term of the loan. Through some glitch, my account suddenly received an escrow account, to which they started charging a monthly fee onto my regular payment. Proof of paid insurance and taxes has been confirmed several times. The mortgage company's own insurance, customer service and escrow departments all confirm this and agree the escrow account should be closed down and their information corrected, however, they have been unable to make this correction for over 5 months now.
Initially, I gave them an additional $800+ which was to be reimbursed to me, to allow for the time frame they claimed it would take to correct the issue since I didn't want my credit damaged, and continued to make the regular monthly payments, as instructed. However, now they are threatening me with late fees and foreclosure since they refuse to apply the regular payments to the principal and interest unless I also fund their escrow account. I call multiple times a month and each time am assured this issue will be corrected and the $800+ will be reimbursed, then a week or so later I get another letter in the mail demonstrating nothing has changed. I suppose it's time for a lawyer.
PHH Mortgage is a third-party company that Coldwell Banker Mortgage retains to handle completed loans. PHH Mortgages practices are abysmal across the board: From answering the phone to working with borrowers on a problem, the company is effectively useless at everything it does. From my now extensive dealings with the company, I have come to the conclusion that everything it does is designed simply to string along borrowers so they continue to make mortgage payments as long as possible. The some 18 months I have dealt with the company have left me so bitter that I will certainly never directly use Coldwell Banker for anything ever again, and may not even buy a house from a seller represented by a Coldwell Banker agent. There is absolutely no excuse for how terrible this company is. My experience, so you can decide for yourself, is as follows:
In May 2015, our house in Houston, Texas, flooded (along with hundreds of others). After spending over an hour providing income information and discussing my intentions about repaying the Coldwell loan with PHH Mortgage employee a few days after the flood, she promised we would be eligible for a deferral while we were displaced and rebuilding. After completing an onerous packet of information that arrived a week or two later, and providing documentation of our assets, bank accounts, bills, etc. (a project that took untold hours), I sent the completed packet and supporting materials to PHH Mortgage. A message board was created where I could login to review the pending deferral.
Despite the fact that I provided everything needed, some PHH Mortgage idiot started sending boilerplate postings that we were missing information. I lost track of how many times I pointed out they already had the information they were requesting, and sent the requested information again and again (this went on for weeks). At some point, I began making angry phone calls asking for their corporate counsel, which I was never given the number for, but was eventually sent to the office of the president after repeated discussions with employees that had no last names, no phone extensions, and no email addresses.
Finally, and many months after the flood, a girl that sounded like a college intern finally returned my phone calls, and said she would look into our case. Toward the end of 2015 (after we had already rebuilt our house over four months, and paid double mortgage and a rental notes during that time), she called back to say she could defer half of our mortgage payment for three months, with that half to incur interest and be rolled into the remaining loan. I never accepted or rejected the offer, since we had moved back in to our house by this time.
In April 2016, our house flooded again. The exact same song and dance occurred: Promises of help, receiving the same packet of information to complete, nobody answering the phone that could answer an actual question. Realizing the fact none of this would do me any good, I called the office of the president to accept the offer to defer half the mortgage for three months. Unsurprisingly, the offer was supposedly already withdrawn in a letter we never received, and I was told to go through the same exact process as before.
Needless to say, PHH Mortgage and Coldwell Banker, by extension is a terrible company. Maybe this practice is par for the course, in which case an industry-wide reform is necessary. The thinly-veiled practice is to simply gather asset information from a borrower at a time the borrower is down on their luck. The way PHH Mortgage extracts this information is by making promises to help the borrower that PHH Mortgage has no intention of keeping. Just by way of example of how the process should work, Ford sent me a notice asking if it could defer my truck payments because of the flooding. And my student loan deferral was accomplished in a single call. It makes no sense that I can rebuild a flooded house from the studs out in less time than PHH Mortgage can respond with a half of a deferral, unless the company’s goal is debt collection (and not helping borrowers).
After the second flood, we sold our house. PHH Mortgage would not accept our payoff of the mortgage note. (A check from our insurance company, with the balance paid by the buyer-investment company.) The investors buying our house took a major risk, paid the full mortgage note by wire, and then had us simply endorse the insurance check (with Coldwell Banker as one of the payees) to them. The continued incompetence of PHH Mortgage could have easily cost us the sale of the house.
And, the icing on the cake to all of this was that PHH Mortgage, weeks after mortgage balance was paid off, never sent the escrow balance to us. After sending a threatening letter, I still got no response after several more weeks. Another angry phone call and hour wait on hold later, I was told the escrow check was mailed to the old address, despite the fact they were provided our new address in the letter I sent. I was then told the old check would be cancelled, and to wait two weeks for a new one to arrive. The next day, the original check arrived (forwarded from the old house). A month later, no new check had arrived. I cashed the cancelled check, which was apparently never actually cancelled. A fitting end to my saga with this confederacy of dunces.
I overpaid on my payment. Instead of applying the excess to principal or whatever - they apply the payment to principal and then say, "You didn't pay your mortgage." I tried to reach them to correct this. Not only did their website not recognize my account number (which is the only one I've had with them for years and works in every other instance) - when you call their customer service number (800499-8767) you get this: Some nonsense offer for senior citizens - once you exit that offer, then it directs you to an offer for DirecTV, then Disney Vacation Planning, then Dish Network, The State Farm Auto Insurance... once you exit that it then states their selected partners phone number 3 times, Then their selected partners website url twice.
When you exit it then repeats the their selected partners website info 2 times more. Finally it says, "The number you dialed has changed." - Proceeds to send you to another number that starts with MORE offers all over again! I tried another number (800) 210-8849 and it and this one gives you a menu that doesn't respond to any of your touch tone inputs regardless of what you enter.
My first bad experience with this crap company was when they bought my loan from my previous lender. I received no statement from them for 3 months. I did receive a letter telling me they were the new loan servicing agent, so I called them to ask them how much my payment was and where to send it. They told me to just sit tight, that they were very behind on assigning new loan numbers, and to wait to pay them until I received something in the mail from them. They said "don't worry, you won't be charged any late charges or sent to collections." Well, two months went by and nothing. Next thing I know they report me to a collection agency, I'm getting phone calls about my late loan payments, and I was charged late fees. It took numerous phone calls to clear all of this up. I finally got all this cleared up after four months of phone calls.
The next issue I had is I have a tax lien so I wanted to get them to increase my loan payment and add the extra to my escrow account for when that tax was due. Each time I sent them the extra for the escrow account, they added it to principal. I marked the check and the payment coupon very clearly indicating the extra was for the escrow account and why. Didn't matter. Then they did a re-analysis of my escrow account and decreased my monthly payment. A few months later they came after me saying I didn't pay ENOUGH, I had been underpaying, when all I was doing was paying what they said they wanted. They then wanted me to pay the difference between what my payments should have been and what they billed me for. I had to use up all my savings to cover that mistake of theirs.
Regarding the escrow account re-analysis that started it all, I called numerous times to explain to them this wasn't necessary, but they didn't understand what I was saying. The last time I made an extra payment to my escrow account it actually was posted to the actual escrow account instead of principal. First time that happened in the past 9 months I've been dealing with this crap!!! I hate this company with a passion. I was not surprised to find that numerous others have had similar issues with these morons.
I refinanced my mortgage and unfortunately ended up with PHH. PHH was recently bought out and since then they are awful. I refinanced in March and as of Sept. 2016 still have NO recorded deed of trust on my house. I called in June to check on it and they didn't even know it hadn't been recorded. They lied to me and told me they processed it when in fact they had not. I waited a additional 4 weeks and still nothing. I literally have been calling twice a week if not more since June 2016 to try to get a resolution to the situation and still... I have no resolution. The deed of trust has been rejected 3 times by my county because they still can't get it right.
I again am sitting on hold for the second phone call today hung up on the first time, for 1 hour and still holding. I have begged and pleaded, to even take it in myself with still no solution and they will NOT work with me. Colorado has a law that the deed of trust must be recorded within 90 days... they have far exceeded that. I don't know if or when my deed of trust will be recorded regardless of what I do on my end to try to continue to push this through.
By far the worst company I have ever worked with. Hold times are a minimum of 45 minutes, to get to a supervisor you will wait additional 1 hour minimum. I can't say anything good about this company or the people they hire. I have gotten transferred and transferred and transferred and then when you do get someone that knows what they are talking about, getting back to them is impossible. I have been sent to ever department and every time I call it's that way as well. I have tried emails, supervisors, offering to do it myself, to no avail... I am beyond frustrated and am literally just sitting hoping that this 4th time that they submit it to the county will actually be right. Now that I have waited 1 hour and 45 mins for a supervisor I was told that it takes 24 to 48 hours for them to research the issue to even get back to you. Does anyone at this company do their job or even run it?
My mortgage co is Ditech, but I just got a call from my insurance co which is Amica telling me that they had a request from PHH Mortgage to switch my homeowner's policy over to them. I called Ditech... NO PLANS TO MOVE MY MORTGAGE!! So I called Amica and let them know that there seems to be a scam going on.
It took three weeks to issue the escrow check after closing - not too bad. The check was sent to the wrong address and made out to two parties, one deceased - not their fault. The problem started when I tried to rectify the situation. I was given specific instructions regarding the paperwork necessary and to whom it should be sent. Those instructions were followed to a tee, but no check. Made a follow up call and was told they hadn't received the paperwork. I was put on hold long enough for the customer rep to, lo and behold, find it! The changes were made and I was told a new check would be issued. Waiting, waiting... Made another follow up call and was told the check would be processed in 3 weeks!
The fault was with them for "losing" my paperwork and not making the changes in a timely manner, but I was told I still needed to adhere to their processing time frame. I objected and asked to speak to a supervisor, only to be told I would receive a callback the next day. No call. No call for a week (I was unable to find the time to pursue this battle during that time). Finally, after a week I made another follow up call and was told someone had tried to reach me. Hmmm, no message, no missed call. I asked to speak to a supervisor again and was told that another work order would have to be generated to make that happen! Four months after closing and still no check!!! This company is grossly incompetent!!! So, BEWARE! Run far and fast! I gave them one star because no stars is not allowed. If it were possible, I would give them a minus star score!
When we first got our mortgage just over 5 years ago, these people screwed up everything... but we were so far along with the process, we decided to just ride it out. Even after we had to postpone closing for a day because of their incompetence... how much worse could it get, right? Well, now that we're trying to refinance (NOT with PHH), we're learning just how much worse. Turns out these cerebrally deficient people filed our title twice... so it looks like we have two mortgages. Same property, same amount, same start date... TWICE! How does that even happen??? "Should be easy to fix," the new mortgage company says. But, they have seriously underestimated PHH's concerns about making things right. After two days of phone calls and faxes, plus over a week of waiting for them to act, still nothing! And, when I do talk to someone he or she just doesn't care. I mean, seriously they just don't care.
I was placed in foreclosure while working on a Deed of Lieu or I should say, the rug was pulled from under my feet and I looked up in I'm foreclosed. Anyhow to make a long story short, these stories are making me scared. The insurance company did not cover everything but they did send $17,000 for about 25% of the work and after the foreclosure now they are saying I can't get anything if something left after the work. I got a feeling PHH is going to give me the runaround. They haven't even paid the public adjuster his 10% yet. Did I tell you asbestos is around the furnace that went out and all over the floor. Kissing thousands goodbye!!!
PHH Mortgage is just a horrible company. My loan payment doubled after the ARM which I didn't expect then I lost my job which temporarily caused a bit of difficulty paying the large bill on time. They had me submit information about 15 times over the course of three months and then declined assistance. I would never recommend this institution to anyone. If your bank states that your loan is being sold or serviced by this institution, fight, fight fight to see if there is another option. This company should be penalized and closed immediately.
PHH Mortgage Company Profile
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- PHH Mortgage