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15.52 Fees and Penalties

As per this Guide, any noncompliance with all applicable loan delivery instructions and product guidelines will result in various fees and penalties to Client. PHH reserves the right of off-set against any outstanding fees against any proceeds...

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-36-FHA-Loan

15.53 FHA

The Federal Housing Administration, an agency within HUD, or any successor thereto, and including the Federal Housing Commissioner and the Secretary of Housing and Urban Development where appropriate under the FHA regulations.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-37-Fidelity-Bond

15.54 FHA Loan

A residential Loan, the payment of which is insured by the Federal Housing Administration or any successor thereto. Client must be a HUD-approved Mortgagee to sell FHA loans to PHH.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-38-Fitch

15.55 Fidelity Bond

Insurance that generally covers losses caused by dishonest or fraudulent acts by employees and others.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-39-Fraudulent-Document

15.56 Fitch

Fitch Ratings or its successor in interest.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-40-Freddie-Mac