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August 31, 2015 1:52 PM ET

Thrifts and Mortgage Finance

Company Overview of PHH Mortgage Corporation

Company Overview

PHH Mortgage Corporation provides mortgage services for real estate companies, investment firms, banks, credit unions, and relocation professionals in the United States. The company originates, processes, closes, and services mortgage loans. It offers correspondent lending, private label solutions, loan subservicing, and relocation services. PHH Mortgage Corporation was formerly known as Cendant Mortgage. The company was founded in 1989 and is headquartered in Mount Laurel, New Jersey. It has additional offices in Dallas and Houston, Texas; Los Angeles, California; Boston, Massachusetts; and Orlando, Florida. PHH Mortgage Corporation operates as a subsidiary of PHH Corporation.

1 Mortgage Way

Mount Laurel, NJ 08054

United States

Founded in 1989





Key Executives for PHH Mortgage Corporation

Chief Executive Officer and President
Age: 53
General Counsel and Vice President
Senior Vice President of Servicing
Senior Vice President of Private Label Solutions
Senior Vice President of Real Estate Sales
Age: 63
Compensation as of Fiscal Year 2015.

PHH Mortgage Corporation Key Developments

PHH Mortgage Corporation Announces the Opening of Six New Offices as Part of Retail Expansion Strategy

PHH Mortgage Corporation announced the opening of six new retail sales centers throughout the country. Late last year offices were opened in Dallas and Houston, TX, and since January additional offices have been opened in Los Angeles, CA, Boston, MA, and Orlando, FL. Three new regional managers have been hired to lead the sales efforts at the new retail centers in Texas, including Chris Karageorge, formerly VP Mortgage Lending at Guaranteed Rate, John Olson, formerly VP at Regions Financial Corporation and Caroline Edwards, formerly a Regional Sales Manager at Bank of America. In addition, existing regional managers John Wilbanks, David Martinelli and Dan Lykens have been selected to take on new responsibilities for the offices in California, Massachusetts and Florida, respectively.

PHH Mortgage Corporation Announces Executive Changes

Effective as of July 21, 2014, Glen A. Messina assumed the consolidated roles of President and Chief Executive Officer of PHH Mortgage Corporation. David E. Tucker, who previously served as President and Chief Executive Officer at PHH Mortgage, will remain employed in the position of Executive Vice President of PHH Mortgage through the end of January 2015. In addition, Richard J. Bradfield assumed the new position of Senior Vice President and General Manager, Financial Institutions of PHH Mortgage on July 21, 2014. Prior to assuming this role, Mr. Bradfield served as Senior Vice President and Treasurer at the PHH Corporation.

PHH Mortgage Reaches $6.3 Million Settlement with New Jersey AG

The New Jersey Office of the Attorney General announced Dec. 4 that the acting attorney general, John Hoffman, and the Division of Law Director Christopher Porrino have entered into a $6.3 million settlement with PHH Mortgage Corp. The settlement resolves allegations that the company misled homeowners who sought loan modifications or other help to avoid mortgage delinquency or foreclosure. It includes $3.6 million in restitution payments, which must be paid within 30 days of the settlement's effective date, to approximately 2,000 borrowers nationwide whose loans are serviced by PHH Mortgage. The balance will be paid to the state of New Jersey. Another condition of the settlement requires PHH Mortgage to provide the state with detailed information about its activities related to, among other things, mortgage modifications and foreclosure actions on a quarterly basis.

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