A settlement has been reached between PHH Corp.’s home-lending unit and dozens of states over alleged servicing abuses that took place during the foreclosure crisis.
PHH disclosed Wednesday that subsidiary PHH Mortgage Corp. has reached a $45 million settlement with the Multi-State Mortgage Committee and state attorneys general.
The agreement resolves alleged violations of state and federal foreclosure, modification and servicing laws by the Mount Laurel, New Jersey-based company from Jan. 1, 2009, until Dec. 31, 2012.
Source: Mortgage Daily
