Effective for Best Effort Commitments, including Non-Delegated, locked on and after June 3rd, 2024, PHH will no longer accept FHA loans with DTI over 50% and median credit scores under 640, regardless of AUS recommendation. Current locked loans in the pipeline will not be impacted by this change.
If you have any questions, please contact your Correspondent Specialist, Sales Executive/Correspondent Sales Representative, or contact us via the support line at
1-800-929-4744.
Thank you for your continued business.
Coming soon – PHH Mortgage is changing its name!
