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
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
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
Insurance that generally covers losses caused by dishonest or fraudulent acts by employees and others.
Resources > FAQ > CHAPTER-15-GLOSSARY > 14-39-Fraudulent-Document
Fitch Ratings or its successor in interest.
Resources > FAQ > CHAPTER-15-GLOSSARY > 14-40-Freddie-Mac