PHH Mortgage is broadening its subservicing menu, and will take on assignments involving loan loss sharing arrangements with the Federal Deposit Insurance Corp. Among other new initiatives, the Mt. Laurel, N.J.-based PHH will take on servicing assignments that include delinquent loans. It also is offering what it calls a "hybrid" subservicing option that allows client mortgage firms to maintain customer contact while PHH Mortgage completes all the back office servicing processing. According to the Quarterly Data Report, PHH ranks seventh nationwide, among subservicers with $22 billion in contracts at December 31.
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