PHH Mortgage (www.phhmortgage.com), a subsidiary of PHH Corporation (NYSE: PHH), offers a variety of mortgage operating platforms that credit unions can choose to best suit the size of their membership base and their own mortgage expertise. PHH Mortgage offers:
- Customized Solutions - For credit unions with limited mortgage resources, we offer an Internet and phone-based system to support their members interested in obtaining a mortgage. For those credit unions that have mortgage expertise, we are capable of customizing our options to support the needs of their organization, small or large. The credit union can choose to operate as a mortgage broker or a mortgage correspondent.
- Private Label Outsourcing - There is also a private-label platform, which is branded in the credit union’s own name and keeping PHH Mortgage’s involvement virtually invisible to the credit union’s members. This enables credit unions to outsource various business processes while enhancing member retention and control.
- Subservicing Options - Credit unions can also choose to have PHH Mortgage subservice their mortgage loans. As part of our value proposition to our credit union clients, we promise that we will not sell the servicing of the loans. Moreover, our credit unions will still have the ability to cross-sell other financial products, while also maintaining the member relationship.
- A Wide Variety of Mortgage Products – PHH Mortgage has over 125 mortgage products, allowing credit unions that work with us to offer a variety of mortgage solutions to meet the needs of their members. This allows credit unions to compete effectively against other rival financial institutions without having to maintain a large servicing portfolio, while also helping the credit union retain their member base.
Because we truly understand your business, our processes are highly specialized and focused on the unique needs of each credit union we serve. Our products and knowledgeable personnel will help keep a credit union competitive in the fast paced mortgage market.
For more information on the solutions provided by PHH Mortgage, please contact Craig Dodds, Vice President, Wholesale & Correspondent Lending Sales, at (904) 445-4479 or craig.dodds@phhmortgage.com.
