PHH Correspondent Lending

2.7.6 Approval

After the Client receives approval from PHH, Client will be provided a Client ID that will remain as long as the Client is doing business with PHH.

Resources > FAQ > Chapter-2-Seller-Approval-Process-and-Eligibility > 2-6-Application-Process > 2-6-6-Approval

2.7.7 Review Process for New Clients

Newly established Clients will be subject to a limited review of files submitted.
After a new Client has successfully sold 10 loans, at PHH’s discretion and approval, the Client may be removed from the more extensive review status....

Resources > FAQ > Chapter-2-Seller-Approval-Process-and-Eligibility > 2-6-Application-Process > 2-6-7-Review-Process-for-New-Sellers

2.7.8 Changes in Client Status

The following information should be reported to PHH prior to or upon occurrence, as applicable:

Client’s address or phone number changes
Material financial changes or changes in management...

2.7.9 Approval to Deliver eNotes/eMortgages

A Client must be pre-approved in writing by PHH prior to the submission of any Loan originated with an eMortgage to PHH for possible purchase. PHH will accept eNotes and hybrid closings. A Client must obtain approval to deliver eNotes as part of the...

2.9 Representation, Warranties and Covenants

The Client represents and warrants to PHH that all of the statements regarding the Client (and Guarantor, if applicable) set forth below are true, correct and complete, as of the execution of the Client Agreement, delivery of any Loan to PHH and any...

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2.7.6 Approval

2.7.7 Review Process for New Clients

2.7.8 Changes in Client Status

2.7.9 Approval to Deliver eNotes/eMortgages

2.9 Representation, Warranties and Covenants