Stop PHH Mortgage

Lets join together to save consumers from PHH Mortgage's bad business practices


(Send this to every member of Congress, the Senate, the Cabinet, the media, and any websites that you can think of)

To Whom It May Concern,

                I am writing this letter today to bring your attention to what USA Today named the 11th largest mortgage servicer (6/26/08), PHH Mortgage, with headquarters in Mt. Laurel, New Jersey.  What is a mortgage servicer?  Perhaps you could shed some light on that.  But more importantly, why is a company still in business with at least three lawsuits and a class action lawsuit against it, 146 (resolved) Better Business Bureau (BBB of NJ) complaints against it, and hundreds of complaints against it on various websites? (See Google searches: Lawsuits/Complaints/Class Action Lawsuits and PHH Mortgage.)

                I understand that we made a commitment to pay our mortgage but we were never given a chance to choose who would service the mortgage and we certainly did not choose PHH Mortgage.  Plus, I have yet to find a way to switch my mortgage servicer as I would my cell phone provider. 

                Please for a moment think of our consumer society.  We can choose among a few cell phone carriers and we can decrease or increase our monthly plans when needed.  We can choose between cable, satellite, or antenna for our television watching.  We can choose to decrease our cable channels to save money.  We can decrease our grocery intake, electricity usage, and traveling to save money.  We also expect to be able to adjust our mortgages if needed. 

                I understand that in years past, the banks would just take your house or car if you didn’t pay for it.  But, we are in a completely different era now.  We are in the era of the AIG and bank bail-out controversies.  We have seen Wall Street rewarded time and again for breaking our trust and making money because rules were not there and their moral compasses were broken.  We were fooled and we deserve regulation, honesty and fairness.

                I am a victim of PHH Mortgage’s bad business practices and I am not alone.  When the taxpayers bailed out AIG and the banks, the situation generated plenty of media and congressional attention.  Shouldn’t mortgage servicers such as PHH Mortgage receive the same amount of attention?  After all, what are they? What do they do? What rules do they play by? Why can’t we choose and switch our providers?  PHH Mortgage and others like them are doing damage to many Americans by placing a scarlet “F” for Foreclosure in their credit reports.  Don’t we deserve more from a company that can harm us so much? 


Download Letter Here


6 Responses to “Letter”

  1. Angie said

    In your letter you stated “we were never given a chance to choose who would service the mortgage and we certainly did not choose PHH Mortgage” and that you “have yet to find a way to switch my mortgage servicer as I would my cell phone provider.” My question now becomes, who did you enter into contracts and agreements with if not PHH Mortgage? There was nothing in the contract that stated the terms related to which entity would be acting as the servicer of your loan? If it was stated then your signature certainly agreed to accept the servicer. If it was not clearly stated then you would need to seek out those you entered into contracts with. If it turns out that it was PHH you entered into a contract with then wouldn’t your signature be proof that you did have an agreement to accept PHH as servicer?

    Maybe my confusion stems from my lack of knowledge of how mortgages work. Based on your letter you got a mortgage which was then assigned to PHH. A simple analogy would be if you took your car to a car wash and didn’t like the wax job. Do you sue the waxer himself or the company that appointed that waxer to wax your car?

    Also in your letter you also think that terms of mortgages should be adjustable whenever you the consumer feel you want a change. Mortgages are hardly like cell phone, electric, or the other services you mentioned. The terms are short because consumers are so fickle and because new technologies bring more options all the time. When buying into services you do for short periods because you don’t want to commit yourself knowing that there might be something better later.

    Buying a home on the other hand is more of a long-term investment is it not? It’s one of those things you need to plan for and do your homework before making the big decision. I think too many, like myself, think it’s ok to not read the fine print. That everything is going to be fine because we should trust the other party will not screw us over. And if we end up not happy too many of us are eager to head to the BBB and complain to Consumer affairs. But it’s unfortunate that often there are terms in the contracts that we should have read but didn’t. So is it the businesses fault that average consumers enter into business contracts without doing their part to make sure that they fully understand what they are agreeing to?

    • Donna said

      OMG I feel the pain that PHH has caused! I am at a stand still and so angry I did not Pick PHH and dont want them in my life! I have been dealing with them for over 2 years mostly outside of the USA! how disgusting is that! we cant get the proper answers. I feel like I am part of that credit card commerical “WHATS IN YOUR WALLET” talking to PEGGY! Where do we go for help?

  2. Lin Scho said

    We didn’t pick PHH either. It is like a nightmare we cannot wake up from.

  3. Shelly said

    My home loan was through Sound Credit Un. Was told in was an in house, but PHH has it, over charges for insurance and propery taxes & keeps the extra money paid into escrow. Has changed terms of my loan & rasied my monthly payments, with on extra fees needed or owed. I was late one time in the last 8 yrs with a payment. Bad weather here in Jan. no power for weeks. I called to ask if there was anything I could do I would end up being 2 weeks late on my payment, and was told I would have till the 16th to pay. I did pay before the 16th but they filed, a no payment with an intent to forclose & then a 30 day late after they had already been paid. Was never 30 days late. Killed my perfect credit. Would not fix thier error & denied me a retraction, on my credit report.

  4. Jerrell Griffin said

    PHH has been a nightmare for me and my family. In 2004 on a socail workers salary of 50,000 per year they approved me for up to six properties. I bought all six in the Mississip area which was later destroyed a year later by Hurricane Katrina. PHH was a nightmare as they offerted absolutely no assistance and forced me into foreclsoure. They failed to update my credit profile to show the properties had forclosed and went 5 years of reporting the six properties as late every month. Jerrell Griffin

  5. Jennifer Leidlein said

    I don’t ever reply to posters, ever!!! But unlike a credit card, you can’t just “close down” your mortgage and pick one with a better rate. A lot of us who found ourselves with PHH, did so after being bought out from another bank. We didn’t go willingly, and after awhile, we are finding ourselves kicking and screaming while we dig ourselves out of the piles of bad credit this company is posting to our credit reports falsely. So, if you are not an unwilling client of PHH mortgage, please go buy a house and get a loan with them and come back in a year and let us know how it’s going for you!

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