Effective Friday July 26th PHH will begin accepting locks for Agency and Government Loan (FHA, VA) products with 1.5-.5 Temporary Buydown options. All loans must meet agency guidelines to be eligible for purchase.
Note: Best Efforts locks will use 2-1 when locking.
Reminder: Mandatory Bids require the Buydown Type for eligibility, if a Buydown Flag or “Buydown” is presented without the Type, the loan will not be eligible. Please provide 3-2-1, 2-1, or 1-0 to determine eligibility.
If you have any questions, please contact your Correspondent Specialist, Sales Executive, 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!
