Introduction
PHH Mortgage is a well-known name in the mortgage industry, but who exactly owns this company? In this article, we will delve into the ownership of PHH Mortgage and provide an in-depth analysis of its ownership structure.
The History of PHH Mortgage
To understand the ownership of PHH Mortgage, it is important to know a bit about the company’s history. PHH Mortgage was founded in 1946 as a subsidiary of the commercial fleet management company, PHH Corporation. Over the years, PHH Mortgage grew to become one of the largest mortgage providers in the United States.
The Acquisition by Ocwen Financial
In 2018, PHH Mortgage was acquired by Ocwen Financial Corporation, a leading non-bank mortgage servicer. The acquisition was completed in October 2018, and PHH Mortgage became a wholly-owned subsidiary of Ocwen Financial.
Ocwen Financial Corporation is a publicly traded company listed on the New York Stock Exchange under the ticker symbol OCN. It specializes in servicing residential and commercial mortgage loans and has a significant presence in the mortgage industry. With the acquisition of PHH Mortgage, Ocwen Financial expanded its mortgage servicing capabilities and customer base.
Ocwen Financial Corporation
As mentioned earlier, Ocwen Financial Corporation is the parent company of PHH Mortgage. It was founded in 1988 and is headquartered in West Palm Beach, Florida. Ocwen Financial is primarily engaged in servicing mortgage loans and helping homeowners navigate the complexities of the mortgage process.
Ocwen Financial has faced its fair share of challenges over the years, including regulatory issues and legal disputes. However, it has also made efforts to improve its operations and strengthen its compliance with industry regulations. The acquisition of PHH Mortgage was seen as a strategic move to enhance its mortgage servicing capabilities and expand its market presence.
Conclusion
In conclusion, PHH Mortgage is currently owned by Ocwen Financial Corporation. The acquisition of PHH Mortgage by Ocwen Financial in 2018 solidified its position as a major player in the mortgage industry. As a wholly-owned subsidiary, PHH Mortgage benefits from the resources and expertise of its parent company.
References
– Ocwen Financial Corporation: https://www.ocwen.com/
– PHH Mortgage: https://www.phhmortgage.com/
