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PHH Hit with Class-Action Suit

Posted by CM on July 17, 2009

PHH Hit with Class-Action Suit

Shared via AddThis

By: Martin C. Daks; 3/23/2006

An Oklahoma law firm announced today that it has filed a class-action lawsuit against PHH (NYSE: PHH), a former Cendant subsidiary that provides mortgage origination, and vehicle fleet-management services.

On March 17, Federman & Sherwood filed a class-action lawsuit in the United States District Court for the District of New Jersey, alleging violations of federal securities laws including claims that PHH issued a “series of material misrepresentations to the market which had the effect of artificially inflating the market price.” The class period covers May 12, 2005 through March 1, 2006.

In recent SEC filings, Mt. Laurel-based PHH has noted that revaluations and other reviews of its prior transactions may result in charges against its 2005 income of up to $71 million. Company shares fell $0.31 to $27.07 this afternoon.


17 Responses to “PHH Hit with Class-Action Suit”

  1. tana gerstenberger said

    phh is stealing my home. I have great documentation detailing their lies, harrassment, incompetance and extortion practices. Help please. I am losing my home 11-17-2010.

    • Chris Shumaker said


      I am in the same situation. Maybe if enough of us get together we can stop their fraudulant practices. I am being foreclosed on in the next 3 days (10/12/2010) All that PHH keeps telling me is that it will be taken care of, and that they will stop the foreclosure. I have been “APPROVED” for a loan modification, and have all of my supporting documents to prove. I haven’t missed payments since the modification, but was sent a letter in regular mail that arrived to me just 8 days ago that tells me that the sale date is 10/12/2010. Good luck with yours… My recommendation is to stop paying now, and get out. They are nothing but a bunch of liars and tell you what you want to hear, but can never back it up with proof.

      Chris Shumaker – Riverview, FL (Real Estate Broker Associate w/Keller Williams Realty)

      • WENDY said

        The same thing happened to me in 2003. I entered into a repayment agreement with them which stopped them from foreclosing on my home. I sent all payments under the agreement via wire transfer. After my third payment I received a letter from Western Union stating that my payment was returned and I could come pick up my money. I contacted Cendant (PHH) and they claimed they never received any of my payments, all of which I had receipts for. I was transfereed to another department for assistance and they located all but one. I was told that they had to research the payment and would contact me. About a week later I received an email stating that my payment was found, but unfortunately do to the error my home was sold at the foreclosure sale.

  2. sarah haulenbeek said

    Going through loan modification with PHH they cash some of our payments and return others. I cant get in touch with anyone in Loss Mitigation that can help. I even emailed their corporate office. I am filing a complaint with banking and insurance for NJ. The only contact we have there is an officer that works in NC who when he couldnt find my modification payment, told me to send it VIA Western Union. Now, if they lost a certified check why should I wire money to them?

  3. Mary Pretty said

    I go to court July 5th, 2011. I have tried and tried to get in touch with anyone at the number I was given. They leave notices hanging on your door knob to call and when you do, no one is there. They were suppose to refinance my loan and I am desperate to find a solution to my problem.

  4. D said

    I am a victim too, anything I can do to help others and myself.

  5. audrey higgs said

    I’m a victim as well. My home is going up forsale on 27 of this month and its been hassle.. just like all rest of the people on here that left comments.. i left a comment on the website what they did to me. the website that says PHH MORGAGE will not stop forclosure. I wish someome could help me and let me know what i can do to save my home. i have legal aid but they only can do so much. i had went to him about a yr before i even started tryin to get a loan. he told me i could sue the seller for false stament but i couldn’t afford to do that. it could also take yrs before any settlement. i have children still to put a roof over their heads now. i ask for a loan modifcation in march of 2009 and they are just now contacting me within a yr from them turning me down for help. My laywer sent them a letter stating i had to move out be cause the home was unsafe to live in. This is how cold hearted they are. They lied to me at closing told me that the PMI would benifit me. How i was explain from my lawyer that they seen me coming. they took advantage of a single mother that has a learning disabilty. they ask me to get a dr. statment how long i was disable. before they would give me a loan. i had five kids and and i was renting a home. It also had septic problems i went to court over this home as well almost a yr and its making a long story short they turn the water off on me and my children i couldn’t get water turn back on.. then to find out my septic was not causing the problem. i was liet to from couple of plumbers sayin i had have 2000 dollars to fix it and when a friend had bought the house found out all it need was a snake .so they put me and my kids out so i had to move in with a friend so i was calling all kinds of places for a loan tryin to get my children a roof over their heads so i was turned down from all …except at the time it was different name sorry don’t know exactly how to spell it.crentiden morgage i was just thinkin what i needed to do take care of my children, iPLEASE HELP ME SAVE MY HOME CAN SOMEONE TELL ME WHAT I CAN DO.

  6. Lorelee said

    PHH Mortgage served me with a trustee sale without serving a notice of default. They literally are trying to steal my home, and even have the audacity to refuse acknowledgement of two payments.
    These people are horrible !

  7. Esker Bobo said

    Phh has done the same to me. They foreclosed on my home on 3 Jan 2011 while I was in the process of getting a loan modification which is illegal, I got my Congressman’s office involved and Fannie made made then reverse the foreclosure.They gave me a payment $1029.14 and was somewhat confused when I received a phone called from them stating I had to pay 1352.43. I contacted my Congressman’s office again and she got a reply stating “there had been a lot of confusion” and they apologized for that. I asked, “what is my monthly payment, the lady that sent the email said $1029,14. Thats what we paid. We then received paperwork to sign with the higher figure on ig and told them I was not siging it. about 4 months later the recinded my modification adh started forecloseur again stating they will sell my home on 1 Feb 2011 because I did not pay the correct amount. They stated the higher amoune included the monthly escrow which i though was in cluded in the 1029.14. They again apologized but haave not recinded the foreclosure, or replied to my congressman’s office or myself . So I guess my family and i will be out on the streets in Feb. How can we get a class action law suit started against them

    • Phyllis said

      The same thing happen to myself and family. PHH mortage company sole my home on 2 July 2013. I’m a veteran and homeless. We should start a lawsuits againt this company.

  8. guineeman said

    is any one ready to start a class action yet. we have had so mouch harassment from them for short sale.
    and they loos your dock to prolong problem in illionise they have good laws to protect home owner , we need to take them down.
    PPH is a wicked company.

  9. Lin said

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    a really well written article. I will be sure to bookmark it and come back to
    learn extra of your helpful info. Thank you for the post.
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  10. Judy Ledebuhr said

    I am also a victim of PHH mortgage. Why can’t anyone stop these predators?

  11. Mack said

    Hey there! I just wanted to ask if you ever have any issues with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of hard work due to no data backup.
    Do you have any methods to prevent hackers?

  12. paul j Ulivi said

    phh needs to be stopped I received a letter from an attorney saying I was so many months behind on payments. this all started after we did a loan modification with them about a year ago I think they are doing it to get more money out of me and other people. They make are credit look bad so we cant leave them because no other mortgage company will deal with you. They need to be put out of Business for good.

  13. sylvia said

    Mother of three kids cendant sold my mortgage to citi. But the first 2 payments were sent to. Cendant. They were supposed to be forwarded to citi in 2008, but never were. So citi said i was 2 payments behind for 2 yaers. Had no idea till forclosure in 2010. All the late payments and interest. They took all the paymentstill then. 2010 i got finance help from the free groups trying to fix all of it, till i went back to the original time when cendant kept the 2 payments. Called Cendantv which i kept records, they said they didn’thave to send the money forward. Believe that some uneducated teleoperator probably not even from our country , said its just too bad. Called citi back told them to call cendant, even had cancelled checks from bank! Citi said couldn’t do anything about it. But they did send me a modified loan to add all the interest and late payments, added over 30 thousand dollars to the original loan. I had lived at the residence for 16 years not late payments, it was like i never paid a single payment. I declined. My house isn’teven worth the amount they added to it. Foreclosure came 2 years later. Had to file bankruptcy cause the government can add on the difference from what forclosure sells it for and what its worth. So the mortgages get even more money. I also found out phh, Cendant is owned by citi or has relations. Go figure. Ruined my credit and now have no where to live!

  14. ARNAO said


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