Introduction
PHH Mortgage is a well-known name in the mortgage industry, but what does PHH actually stand for? In this article, we will dive deeper into the origins and meaning of the acronym PHH Mortgage. Understanding the background of this company can provide valuable insights into its history and operations.
The Origins of PHH Mortgage
PHH Mortgage was originally founded in 1946 as the “Truckers Mortgage Corporation” in Mount Laurel, New Jersey. The company’s primary focus was providing mortgage services to truck drivers, helping them finance their homes. Over the years, the company expanded its services and changed its name multiple times before becoming PHH Mortgage.
The Meaning of PHH
PHH is an acronym that stands for “Patterson, Hardee & Pucella.” These were the last names of the three founders of the company: Duane Peterson, Harley Howell, and Richard Heather. The company took the first letter of each founder’s last name to create the acronym PHH, which has become the brand name for their mortgage services.
PHH Mortgage Today
PHH Mortgage has grown significantly since its humble beginnings as the Truckers Mortgage Corporation. Today, it is one of the largest mortgage providers in the United States, offering a wide range of services to both individual homeowners and businesses. The company provides mortgage financing, loan servicing, and other related services to customers across the country.
Acquisition and Rebranding
In 2017, PHH Mortgage was acquired by Ocwen Financial Corporation, a leading financial services company specializing in mortgage servicing and origination. As part of the acquisition, PHH Mortgage underwent a rebranding process and is now known as “PHH Mortgage, a division of Ocwen.” This change reflects the integration of PHH Mortgage into the larger Ocwen organization while maintaining its brand recognition.
Commitment to Customer Service
PHH Mortgage has built a reputation for its commitment to customer service. The company strives to provide personalized assistance and guidance throughout the mortgage process, ensuring that customers feel supported and informed every step of the way. With a focus on transparency and responsiveness, PHH Mortgage aims to make the home financing experience as smooth and stress-free as possible for its customers.
Conclusion
In conclusion, PHH Mortgage stands for “Patterson, Hardee & Pucella,” the last names of the three founders of the company. From its origins as the Truckers Mortgage Corporation, PHH Mortgage has grown into a prominent mortgage provider in the United States. With its acquisition by Ocwen Financial Corporation, the company continues to offer a wide range of mortgage services while maintaining its commitment to customer service.
References
– Ocwen Financial Corporation: ocwen.com
– PHH Mortgage: phhmortgage.com
