74
New Jersey
Lisa G
Lopez
Broker of Record
Home Alliance Realty
142 E. Bay Ave
Manahawkin, NJ 08050
609-978-9009 (o) 609-384-5109 (c)
lglopez@verizon.net
www.HomeAllianceRealty.com
www.LisaLopezProperties.com
Connecticut
Planet Realty, LLC
Sales@CTREOTEAM.com
203-982-4985 cell
www.CTREOTEAM.com
Security • Preservation • Disposition
Steve Rivkin
NEW JERSEY
PHH Servicer Ratings
Rise
Recently, Fitch Ratings assigned an RPS3
U.S. residential primary servicer rating for
prime product to New Jersey-based PHH
Mortgage Corporation (PHH). e rating
agency also assigned a stable outlook, reflect-
ing PHH's experienced senior management
and staff, enterprise-wide risk environment,
compliance protocols, and investments in its
servicing technology.
Fitch rates residential mortgage primary,
master, and special servicers on a scale of 1 to 5,
with 1 being the highest rating. Within some
of these rating levels, Fitch further differenti-
ates ratings by plus (+) and minus (-), as well as
the flat rating.
According to Fitch's findings as of June 30,
2018, PHH serviced approximately 586,609
loans with an unpaid principal balance of $129
billion, of which 550,942 loans represented sub-
servicing arrangements.
ough Fitch did not publicly rate the
credit and financial strength of PHH, it said
that the Fitch Financial Institutions Group
had reviewed and provided an assessment of
the servicer's financial condition. "A company's
financial condition is a component of Fitch's
servicer rating analysis," the agency said in a
statement.
According to Fitch, PHH, which an-
nounced its planned merger with Ocwen
Financial Corp in February 2018, is currently
targeting closing the transaction by the third
quarter of 2018. e merger includes migrat-
ing Ocwen's loan portfolio from its legacy
proprietary system onto PHH's system, which
utilizes Black Knight Mortgage Processing
Solutions (BKMPS) and LoanSphere Mort-
gage Servicing Package (MSP).
"Fitch believes that the potential syner-
THE
LEADER IN
DEFAULT
SERVICING
NEWS
Help shape the next
issue of DS News.
Drop us a line at
Editor@DSNews.com.
The New Jersey
Housing and
Mortgage
Finance Agency
announced in
August that it
would spend
$1 million to
provide housing
counseling for
up to 2,000
homeowners
facing
foreclosure.
KNOW THIS
