PHH Mortgage Won't Stop Foreclosures

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.