PHH Mortgage Lawsuit

phh mortgage

This settlement is closed!

Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory! PHH agreed to a $2.77 million class action lawsuit settlement to resolve claims that it charged illegal service fees on internet mortgage payments. The settlement benefits a national Fair Debt Collection Practices Act (FDCPA) class of residential mortgage borrowers whose loans were serviced but not owned by Ocwen or PHH after the servicers acquired servicing rights when the loans were 30 days or more delinquent and who paid a convenience fee to Ocwen between March 25, 2019, and Aug. 17, 2022.

The settlement also benefits a statewide class of Florida residential mortgage loan borrowers who paid a convenience fee to Ocwen or PHH between March 25, 2016, and Aug. 17, 2022.

Plaintiffs in the class action lawsuit accused PHH Mortgage of charging illegal convenience fees when making loan payments on the internet or through its telephone payment system. These fees allegedly violated the FDCPA and the Florida Consumer Collection Practices Act.

PHH Mortgage is a loan servicing company owned by Ocwen Financial.

PHH hasn’t admitted any wrongdoing but agreed to a $2.77 million class action settlement to resolve these allegations. The company agreed to a similar settlement in 2020.

Under the terms of the settlement, class members can receive a proportional share of the net settlement fund based on the amount they paid PHH in convenience fees. FDCPA class members will receive a share of $1.23 million and Florida class members will receive a share of $1.54 million. Class members who are eligible for both classes will receive proportional shares of both settlement funds.

The deadline for exclusion and objection is April 26, 2023.

The final approval hearing for the PHH settlement is scheduled for May 31, 2023.

No claim form is required to benefit from the settlement. Class members who do not exclude themselves will automatically receive settlement benefits.

Who’s Eligible

The settlement benefits a national FDCPA class of residential mortgage borrowers whose loans were serviced but not owned by Ocwen or PHH after the servicers acquired servicing rights when the loans were 30 days or more delinquent and who paid a convenience fee to Ocwen between March 25, 2019, and Aug. 17, 2022.

The settlement also benefits a statewide class of Florida residential mortgage loan borrowers who paid a convenience fee to Ocwen or PHH between March 25, 2016, and Aug. 17, 2022.

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