PHH Mortgage Signs New Subservicing Agreement with Alterra Home Loans
PHH Mortgage, a top five subservicer in the mortgage industry, has announced the addition of Alterra Home Loans to its portfolio of subservicing clients, which includes some of the most well-respected financial and wealth management institutions. Alterra is minority-owned mortgage bank and the second largest Hispanic-owned mortgage company in the United States.
“We are pleased to have reached an agreement with Alterra and look forward to providing a servicing solution that helps them achieve their business and client goals,” said Steve Staid, Senior Vice President, Servicing. “PHH has been servicing mortgages for over 30 years and we have one of the most robust servicing platforms in the industry with a team of mortgage professionals dedicated to flawless execution and delivering exceptional customer experience.”
Jason Madiedo, President of Alterra Home Loans, said, “We selected PHH Mortgage as our subservicer because they have the experience, capabilities and a proven track record that aligns well with our mission to build wealth through homeownership. We are excited about this newly formed partnership and having PHH Mortgage become an extension of our team.”
Alterra’s subservicing agreement is not expected to have a material impact on the Company’s financial results.
About PHH Corporation
PHH Corporation (NYSE: PHH), through its subsidiary PHH Mortgage, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing and portfolio retention solutions to investors of mortgage servicing rights, financial and wealth management institutions, regional and community banks, and credit unions. Headquartered in Mount Laurel, New Jersey, the Company has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. For additional information, please visit www.phh.com.
Apr 13, 2018