| PHH Cutting Correspondent, Reducing MSRsQ1 mortgage production down 10% from previous period
May 5, 2016 By Mortgage Daily staff |
| As quarterly home lending slowed and the servicing portfolio contracted, PHH Mortgage revealed plans to get out of correspondent lending and reduce its mortgage servicing rights.
Residential loan production during the period that started on Jan. 1 and concluded on March 31 came to 10 percent less than was originated during the fourth quarter of 2015. The parent company, Mount Laurel, New Jersey-based PHH Corp., divulged the data, along with other operational and financial statistics, in its first-quarter 2016 earnings report. |
This page is an archived article from our previous site (Phh Production 050516 L P). The original publication date was May 5, 2016.
Evergreen summary: This article provides insights into PHH production in early May 2016 and discusses trends in mortgage servicing.
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