Profile picture for user9049996

Anybody with phh mortgage and had any harp loan approved?

Phh is a Is a nightmare to deal with, from not returning phone calls and giving you the runaround is there any hope to get a harp 2.0 done with them?
  • June 29 2012 - US
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Answers (8)

Profile picture for SuziDill
I've used them for 10 years and have not had a problem.  They just contacted me to offer a HARP express loan which has no closing costs or appraisals.  Yes, the processor is a different person than my PHH rep.  But I was given explicit instructions on what to say and how many times to call the processor to insure timely approval.  I am to call the PHH rep if I don't get a response within 24 hours of leaving a message for the processor.  If they had problems, it seems they're trying to fix them and stay on top of them.
  • August 10 2013
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A friend of mine that has been in the business a long time has recently made a move to that institution, and while I don't know nor could I  comment on the specifics of how they operate,  things are going very well for him and he's an exceptional loan officer.   I think like anywhere else it's who you're dealing with directly more than the institution itself.   Calling 1 800 YOUR BANK probably isn't the best way to get the highest level of service.  The majority of those loan officers (industry wide) are, well, less than spectacular at their jobs (although there are lots of exceptions of course).  Find one of their local retail loan officers that has a great reputation or feel free to click on me and get in touch if you'd like me to put you in touch with my friend.   I'd highly recommend trying him before giving up on the institution altogether. 
  • February 15 2013
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Profile picture for ihatephh

I am going through the same nightmare right now and have reported PHH to the Comptroller of Currency 1-800-613-6743 and Consumer Finance Protection 1-855-411-2372.  I have been an excellent customer and they are have done everything to me and more. . . .The only thing you can do is keep filing complaints as they have already been fined I believe for unfair practice.

  • February 14 2013
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Profile picture for user3558242
If you have a loan with PHH Mortgage, I advise refinancing with different company.  If you don't have a loan with them - don't get one.  This company is a nightmare.
Tried to refinance mortgage already held with them.Process was long & drawn out.
It took months. They changed interest rate after it was locked in even though credit rating was excellent & appraisal was well above loan amount. Took them days to return phone calls & email. Transferred to different departments.
Would not narrow down closing costs - they stated it could be "up to $5000.00"". Come on people, I don't expect an exact closing cost, but "up to $5000|.00" is not how you do business". Would not take an existing appraisal & made me do a 2nd,. Got tired of waiting for response on a more precise closing costs & went with different company;.
Still charged fees by PHH.. Called company to request that fees be waived, they said no:. Entire process very unethical:.
  • February 05 2013
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Profile picture for user2398959
For the Freddie Mac HARP, PHH only does the "Open Access" version, they don't do the "Same Servicer" version. This is unfortunate, since you don't have to re-qualify through Loan Prospector for the Same Servicer loan but you do for the Open Access loan. Any Freddie Mac lender can do the "Open Access" version of the loan (if you can qualify), so there is no advantage to staying with PHH.  
I'm not sure how PHH handles Fannie Mae HARP loans but from what I've found it sounds like PHH is concerned that their customers will refinance into shorter loan terms, which would result in less servicing profit for PHH.
I am amazed that PHH hasn't realized that they basically have a monopoly on the refinance market for their exsting customers that could qualify for the Same Servicer Refinance but not the Open Access refinance. They will be losing a ton of customers (myself included) if the Responsible Homeowners Refinance Act of 2012 gets passed. That Bill would remove the additional requirements to qualify for the Freddie Mac and Fannie Mae HARP Loans if you go through a different lender/servicer.
  • July 17 2012
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Profile picture for user9049996
Trying to work with them but they have not returned any of my 3 calls. anybody heard of PHH?
  • July 01 2012
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Many HARP loans can be done with a new servicer. If PHH is not helpful you should at least explore this option. You often will get better terms offered this way as well, however he approval criteria are stricter.
  • June 29 2012
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Profile picture for user9049996
Anybody with any happy dealings with phh?
  • June 29 2012
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