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4.9.3 Repurchase Price

The Repurchase Price for a Loan subject to a Repurchase by the Client shall be calculated in accordance with and include the following:

  1. The Purchase Price, Premium and SRP: The Purchase Price, including the SRP [or the greater...

Resources > FAQ > 4-1-Flow-Registration > 4-9-Repurchase-of-Loans-and-Indemnification-by-(1) > 4-9-3-Repurchase-Price

Chapter 5 Underwriting Options
PHH offers delegated underwriting on all loan products. Clients must have all applicable required designations and/or approval status required for all loan products delivered to PHH for purchase.
Clients are responsible for ensuring that all...

Resources > FAQ > CHAPTER-5-UNDERWRITING-OPTIONS > CHAPTER-5-UNDERWRITING-OPTIONS

5.1 Borrower Eligibility
PHH limits borrower concentration to a maximum number of 4 loans per borrower within PHH’s servicing portfolio. In addition, the maximum aggregate outstanding balance shall not exceed $3,000,000 for any borrower, and. the maximum loan amount...

Resources > FAQ > CHAPTER-5-UNDERWRITING-OPTIONS > 5-1-Borrower-Eligibility

5.2 Delegated/Contract Underwriting
PHH will purchase conventional loans within conforming loan balances that receive DU Approve/Eligible or LPA Accept recommendation and have been underwritten and approved by specific prior approved delegated underwriters.
PHH will purchase...

Resources > FAQ > CHAPTER-5-UNDERWRITING-OPTIONS > 5-2-Prior-Approval-Underwriting-(1) > 5-2-Prior-Approval-Underwriting

5.2.1 Loan Eligibility
Loans must be meet all Agency guidelines, federal, state and local regulatory requirements, any applicable PHH overlays or limitations, and have an AUS approval from the applicable Agency. For FHA-NTC (non-traditional credit), PHH may accept...

Resources > FAQ > CHAPTER-5-UNDERWRITING-OPTIONS > 5-2-Prior-Approval-Underwriting-(1) > 5-2-1-Loan-Eligibility