Coming soon – PHH Mortgage is changing its name!
Coming soon – PHH Mortgage is changing its name!
PHH Mortgage is pleased to announce an enhancement to our Non-Delegated Underwriting Process. PHH will now have the ability to rescore loans scored on Freddie Mac’s Loan Product Advisor.
For PHH Mortgage to have access to loan files in Loan Product Advisor, the client will need to complete the Customer Registration Sponsored Access Form. Clients will leverage the PHH Mortgage Seller/Servicer number 037806 as the sponsoring wholesaler’s Freddie Mac Seller/Servicer number.
PHH Mortgage has established relationships with the below Credit Reporting Companies via Meridian Link. The credit report must have been pulled from one of the below companies for PHH to reissue the credit and rescore the loan.
Once the client has set up PHH Mortgage (037806) as a wholesale sponsor and the credit has been pulled from one of the above listed companies, the loan must be “Assigned” to PHH Mortgage in the “Company Name” field after selecting “Seller” as the Role Type. The “Mortgage Service Provider” field should be left blank.
Once the loan is “Assigned” to PHH Mortgage, the client will no longer have access to rescore the loan. If there are changes to the borrower(s)’ name, social security number or position on the loan, PHH will release the loan back to the client to make the appropriate updates.
Currently, PHH Mortgage is utilizing Meridian Link as the Technical Affiliate to reissue credit and will continue to explore additional Technical Affiliates in the future.
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.