The RPS1-minus residential servicer ratings of PHH Mortgage Corp., Mt. Laurel, N.J., have been placed on Rating Watch Negative by Fitch Ratings.Affected are the company's primary servicer ratings for prime, alternative-A, and home equity/home equity line of credit products. The rating actions reflect the uncertainty of market conditions and the sales of PHH Mortgage and its parent company, PHH Corp., Fitch said. The rating agency can be found on the Web at http://www.fitchratings.com.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
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