Skip to main content

PHH to Pay $750K in Settling SCRA Violations

Phil Hall
Feb 07, 2019
PHH Mortgage Corp. has agreed to a $750,000 settlement with the U.S. Department of Justice related to charges of violating the Servicemembers Civil Relief Act (SCRA) by unlawfully foreclosing on the homes of six servicemembers

PHH Mortgage Corp. has agreed to a $750,000 settlement with the U.S. Department of Justice related to charges of violating the Servicemembers Civil Relief Act (SCRA) by unlawfully foreclosing on the homes of six servicemembers.
PHH Mortgage Corp. has agreed to a $750,000 settlement with the U.S. Department of Justice related to charges of violating the Servicemembers Civil Relief Act (SCRA) by unlawfully foreclosing on the homes of six servicemembers
The SCRA prohibits foreclosing on the home of a servicemember during active military service and one year thereafter without a court order if the mortgage originated prior to the servicemember’s period of military service. PHH was accused of foreclosing on six homes of SCRA-protected servicemembers between 2010 and 2012. As part of the settlement, PHH will pay $125,000 to each servicemember whose home was unlawfully foreclosed upon, and the company will provide training to its staff related to SCRA.
 
“The brave men and women who serve in our nation’s armed forces frequently are required to deploy and serve overseas with little notice,” U.S. Attorney Craig Carpenito said. “This Office remains resolute in its commitment to honor their personal sacrifices when they do so by ensuring that servicemembers’ rights will be protected, as the law requires, whenever duty calls. This agreement ensures that servicemembers will be compensated for the damages they suffered when their homes were improperly foreclosed upon while they were serving our country.”

 
Published
Feb 07, 2019
Federal Court Shutters Sham Mortgage Relief Operation

FTC, California agency accuse 2 business owners of scam that cost consumers millions of dollars.

Regulation and Compliance
Sep 22, 2022
CFPB Seeks Input On Creating New Mortgage Products

Agency seeks information on refinances, mortgage products to promote competition and support household financial stability.

Regulation and Compliance
Sep 22, 2022
The Fed Raises Interest Rate 0.75% For The 3rd Time

Chairman said housing market may have to go through "a correction" to return to balance.

Regulation and Compliance
Sep 21, 2022
Fed Committee Gathers To Renew Inflation Fight

FOMC expected to announced 0.75% rate hike after 2-day meeting ends Wednesday.

Regulation and Compliance
Sep 20, 2022
MISMO Releases New Reference Model For Public Comment 

Version 3.6 of the MISMO Reference Model includes new data points and structures.

Regulation and Compliance
Sep 19, 2022
MBA, Other Organizations Want FHA's MIP Reduced

Submit letter to the White House & National Economic Council urging reduction in mortgage insurance premium.

Regulation and Compliance
Sep 14, 2022