The announcement is an update to the PHH Mortgage Seller Guide (“Guide”). The requirements contained herein and in previous announcements are incorporated into the Guide, and they are considered a part of and supplement the Guide.
PHH Correspondent is excited to announce our expansion to allow all approved lenders the opportunity to lock loans through a Best Efforts Commitment. This new offering expands our ability to meet the needs of our client base as well as grow with them.
In conjunction with this new offering, the PHH Correspondent website (Correspondent.phhmortgage.com) will have a new look and feel which will give our lenders more information in a cleaner format. Our Portal will also have new features like:
- Add a New Loan – Lenders will create their own loan record for BE
- Scenarios – BE loans can be priced out in advance of creating a loan file
- Product, Pricing and Lock – Ability to lock, extend, relock and change profiles on BE loans
- Rate sheets, both current and historical are available through this feature
- Note: Loans committed through Mandatory will not utilize this feature
Delivery of closed loan files will remain the same.
Please contact your Account Executive to learn more and watch for training opportunities on the new features coming soon!
Coming soon – PHH Mortgage is changing its name!
