$390,000 settlement for Nevada from mortgage company
Nevada Attorney General Adam Paul Laxalt, along with attorneys general from 49 states and the District of Columbia, as well as more than 40 state mortgage regulators, announced a $45 million settlement with New Jersey-based mortgage lender and servicer PHH Mortgage Corp.
The settlement resolves allegations PHH, the nation’s ninth largest non-bank residential mortgage originator and servicer, improperly serviced mortgage loans from Jan. 1, 2009 through Dec. 31, 2012. The settlement doesn’t release PHH from liability for any conduct that may have occurred since 2013. Under the terms of the agreement, Nevada will receive $390,000 in the settlement.
Approximately 1,009 Nevada borrowers may be eligible to receive a payment from a national $30.4 million fund created for payments to borrowers.