PHH Mortgage to pay $1.2 in restitution to Pennsylvania borrowers

HARRISBURG, Pa. (WHTM) – A New Jersey-based mortgage company will pay an estimated $1.2 million in restitution to nearly 2,300 Pennsylvanians.

PHH Mortgage Corporation has agreed to settle claims it improperly serviced loans between 2009 and 2012, Attorney General Josh Shapiro said. The settlement includes $30.4 million in restitution for borrowers nationwide.

Shapiro’s office said borrowers who were subjected to PHH foreclosures during the 3-year period may qualify for a restitution payment of at least $840 and potentially more. Borrowers who didn’t lose their homes but faced foreclosures that PHH initiated may also qualify for payments.

A settlement administrator will contact eligible homeowners at a later date.

Shapiro and the attorneys general of 47 other states sued PHH for improper conduct. The settlement resolves claims PHH failed to timely and accurately apply payments, failed to maintain accurate account statements, and charged unauthorized fees for default-related services.

Borrowers who believe they were harmed by PHH are encouraged to file a complaint with the Office of Attorney General online. Impacted consumers can also call 1-800-441-2555 or email scams@attorneygeneral.gov.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s