PHH Correspondent Lending

4.7.4 Early Payoff (EPO)

If a loan sold by the Client to PHH is paid in full within 180 days (excluding the Purchase Date including the day of payoff) following the date of purchase by PHH, the Client will be charged a penalty fee in accordance with the following...

Resources > FAQ > 4-1-Flow-Registration > 4-7-Failure-to-Deliver > 4-7-4-Early-Pay-Off-(EPO)

4.7.5 Principal Curtailments

If a Loan sold by the Client to PHH is paid down (including, without limitation, pursuant to a recast in accordance with Section 11.5) in excess of 30% of the unpaid principal balance (UPB) at the time of purchase, within 180 days (excluding the...

Resources > FAQ > 4-1-Flow-Registration > 4-7-Failure-to-Deliver > 4-7-5-Principal-Curtailments

4.7.6 Calculation of Pair Off and Delivery Fees

For all commitment types, PHH will assess a pair off fee based on the below calculations.

Pair Off Fees

For all commitment types, PHH will assess a pair off fee based on the below calculations.

Pair Off Fees

Resources > FAQ > 4-1-Flow-Registration > 4-7-Failure-to-Deliver > 4-7-5-Calculation-of-Pair-Off-and-Delivery-Fees

4.9.1 Repurchase Obligation

Upon the occurrence of any of the following events, the Client shall immediately repurchase the related loan at the repurchase price and shall indemnify, save and hold harmless PHH and its officers, directors, agents, successors and assigns, from...

Resources > FAQ > 4-1-Flow-Registration > 4-9-Repurchase-of-Loans-and-Indemnification-by-(1) > 4-9-1-Repurchase-Obligation

4.9.2 Repurchase Procedures

Upon discovery of one or more deficiencies relating to a Loan, PHH will send an initial demand to the Client via email setting forth such deficiency and indicating that a Loan requires repurchase. Client will have 15 calendar days to cure the...

Resources > FAQ > 4-1-Flow-Registration > 4-9-Repurchase-of-Loans-and-Indemnification-by-(1) > 4-9-2-Repurchase-Procedures