PHH Becomes Preferred Investor for Lenders One

The newest preferred investor for Lenders One Mortgage Cooperative is PHH Mortgage Corp., Mt. Laurel, N.J. Lenders One members will get direct access to PHH Mortgage underwriters, 24/7 online access to products, rates and pricing scenarios, ability to upload documents electronically, and ongoing training for governmental compliance and other regulatory requirements. At the Keefe, Bruyette & Woods Diversified Financial Services Conference PHH Corp. president and chief executive Jerome Selitto, said the company would be entering into a strategic partnership on the wholesale/correspondent side of the business but did not give further details at that time. A call to a PHH representative was not returned by press time. In a press release, Craig Dodds, PHH vice president, wholesale correspondent lending, said his organization "will support Lenders One's members with a correspondent lending platform for conventional, government-insured loan products and rural development loans." Lenders One has over 165 members.