Effective for loans funded on and after October 1st, 2022, the calculation for the fee associated with Early Payoffs will change.
Should a loan that was sold to PHH, be paid in full between 0 - 180 days, (excluding the Purchase Date; including the day of payoff) following the date of purchase, the Seller will be charged a penalty in accordance with the following schedule:
SRP Schedule listed above is submit to change at PHH’s discretion. This policy will be updated in the PHH Mortgage Correspondent Lending Seller Guide.
If you have any questions, please contact your your Correspondent Specialist, Sales Executive, or contact us via the support line at 800-929-4744.
Thank you for your continued business.