Announcement - Seller Guide Updates 2024

PHH Mortgage has made several modifications to the Seller Guide to adhere to agency guidelines and incorporate advancements. Highlights as followed:
  • Section 2.7.2 - Seller Financial Requirements - Updated Delegated Program Net Worth requirement basis requested max loan amount for Non-Agency products
  • Section 2.7.4 - Key Documentation Requirements - Added Property Data Collector Independence Requirements (PDCIR) plans
  • Section 2.9.1 - Representation, Warranties Regarding Covenants - Added loan process to be in accordance with Non-Agency Underwriting Standards
  • Section 4.7.3 - Early Payment Default (EPD) - Updated calculation in case of indemnification by PHH added verbiage pertaining to Delegated Non-Agency loans
  • Section 5.2.6 - Condo Project Approval - Update in Seller's responsibilities
  • Section 5.3.3 - Non-Agency Seller's Loan Level Responsibilities – New section outlining seller’s responsibilities
  • Section 7.0 - Appraisal Requirements - Property Data Collector Independence Requirement (PDCIR) specifications needed for appraisals
  • Section 8.13.1 - Ineligible Determinations - Update in title and non-discrimination for Other Protected Areas specified
  • Section 8.14 - Hazard Insurance - Identified Name insured requirements by Agency
  • Section 11.5 - PHH Recast Policy - Added Non-Agency accounts ineligible for a recast
  • Section 13.3 - Appraiser Independence Requirements - Added loans should comply to Property Data Collector Independence Requirements (PDCIR)
  • Section 15 - Glossary - Added definitions for CPM, ECOA, FCRA, UPB, HMDA, Non-Agency Underwriting Standards
If you have any questions, please contact your Correspondent Specialist, Regional Sales Executive, or contact us via the support line at 1-800-929-4744. Email inquiries can be sent to or
Thank you for your continued business.