PHH Mortgage is indeed an American company that has a significant presence in the mortgage industry. Founded in 1946 as a mortgage brokerage firm in Mount Laurel, New Jersey, PHH Mortgage has since grown into one of the largest mortgage servicers and originators in the United States.
Over the decades, PHH Mortgage has experienced various transformations and expansions, solidifying its position as a leading player in the American mortgage market. In 1997, the company became a wholly-owned subsidiary of Cendant Corporation, a major provider of business and consumer services. However, in 2005, Cendant Corporation announced its plan to split into four independent companies, with PHH Mortgage becoming part of the newly formed PHH Corporation.
Under its new corporate umbrella, PHH Corporation focused primarily on mortgage and fleet management services. This reorganization allowed the company to concentrate on its core business and enhance its offerings to customers in the mortgage sector. The company's services include loan origination, loan servicing, and mortgage solutions for financial institutions, real estate professionals, and individual homeowners.
In 2014, PHH Mortgage faced some significant changes when it agreed to sell its fleet management business to Element Financial Corporation, effectively shedding a non-core component of its operations. This strategic move allowed PHH Mortgage to intensify its efforts on its core mortgage services and concentrate on remaining a vital player in the ever-evolving American mortgage industry.
Throughout its history, PHH Mortgage has adapted to the changing landscape of the housing market and the regulatory environment. As with any large mortgage company, it has encountered its share of challenges, including navigating the housing market collapse of 2008, which had a profound impact on the industry as a whole.
PHH Mortgage has made efforts to position itself as a reliable and customer-focused mortgage provider. It aims to streamline the mortgage process, offer competitive rates, and provide exceptional customer service to homebuyers and homeowners alike. By adhering to these principles, the company has sought to build trust and foster lasting relationships with its customers.
As of my last knowledge update in September 2021, PHH Mortgage is an established American company with deep roots in the mortgage sector. However, it's essential to note that the business landscape is constantly evolving, and corporate structures can change over time. For the most current and accurate information about PHH Mortgage's status and activities, it is recommended to refer to reputable sources and the company's official communications.
