PHH Correspondent Lending

4.6.2 Loans Rejected by Prior Investor

PHH will not accept loans that have been rejected by any other investors, regardless of the seasoning. Exceptions may be considered on a case-by-case by PHH, in its sole discretion, if PHH determines the loan complies with all PHH policies and...

Resources > FAQ > 4-1-Flow-Registration > 4-6-Age-of-Loans > 4-6-2-Loans-Rejected-by-Prior-Investor

4.7 Failure to Deliver

Any contingency, issue, process, or scenario not covered in this Guide should be considered outside of PHH policy and, therefore, subject to review by the Rate Lock Desk. Clients are encouraged to call the Rate Lock Desk when they have questions or...

4.7.1 Mandatory and Best Efforts Commitments

Participation in a Mandatory or Best Efforts Commitment is permitted at PHH’s discretion. PHH reserves the right to limit the outstanding undelivered commitment amount available to the Client. The Client must be approved by PHH’s Credit...

4.7.2 Withdrawing or Canceling Loans

A Client may request PHH to cancel or withdraw a loan. Once cancelled or withdrawn for any reason, the loan immediately ceases to be price or guideline protected. There can be no reinstatement of that specific loan number. Should the Client request...

4.7.3 Early Payment Default (EPD)

If any of the first four payments due on a Loan following the date of purchase and sale from the Client by PHH becomes 90 days or more delinquent, the Client shall, at PHH’s option, either repurchase such Loan at the repurchase price or...

Resources > FAQ > 4-1-Flow-Registration > 4-7-Failure-to-Deliver > 4-7-3-Early-Payment-Default-(EPD)

FAQ Search Results

Found 397 Results

4.6.2 Loans Rejected by Prior Investor

4.7 Failure to Deliver

4.7.1 Mandatory and Best Efforts Commitments

4.7.2 Withdrawing or Canceling Loans

4.7.3 Early Payment Default (EPD)