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PHH Mortgage Won't Stop Foreclosures

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PHH Corporation has issued the following statement by Jerry Selitto, president and chief executive officer, concerning the foreclosure procedures of its subsidiary, PHH Mortgage Corporation: “PHH Mortgage takes its mortgage servicing and compliance responsibilities very seriously and is committed to treating its borrowers fairly.”

“PHH Mortgage has received a number of inquiries regarding its foreclosure procedures. It is actively cooperating with its regulators, is responding to such inquiries and has completed a comprehensive review of its foreclosure procedures. Based on this review, PHH Mortgage has not halted foreclosures in any states and has no plans to initiate a foreclosure moratorium.

“PHH Mortgage takes its mortgage servicing and compliance responsibilities very seriously and is committed to treating its borrowers fairly.”

For more information, visit www.phhmortgagesolutions.com.

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