“We are very pleased to enter into this new subservicing relationship with FAR,” Anderson added. “We look forward to a long-term relationship with FAR and delivering on the expectations that they have for their servicing partners and customers.”
PHH’s total reverse servicing portfolio was about $31 billion in UPB in the fourth quarter of 2022, including $23 billion in subservicing UPB. Last month, the company renewed its partnership with the National Association for the Advancement of Colored People (NAACP) to continue hosting virtual borrower outreach events for customers struggling to make their mortgage payments.
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