People facing foreclosure from PHH Mortgage eligible for payments

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Foreclosure Sign Outside Home

FRANKFORT, Ky. (WTVQ) – Nearly 550 Kentuckians who faced foreclosure on their homes from New Jersey-based PHH Mortgage Company are being encouraged to sign-on to a multi-state settlement against the company by the Kentucky Attorney General’s Office.

The deadline is January 28, 2019.

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The Kentucky Attorney General’s Office says a third-party administrator handling payments for eligible Kentuckians mailed final notices December 21, 2018.

A total of 49 state attorneys general, the District of Columbia and over 45 state mortgage regulators reached the $45 million settlement earlier this year with mortgage lender and servicer PHH Mortgage Corporation, the nation’s ninth largest non-bank residential mortgage servicer.

The settlement resolves allegations that PHH improperly serviced single-family residential mortgage loans from Jan. 1, 2009, through Dec. 31, 2012.

Allegations of servicing improprieties included, but were not limited to, failing to timely and accurately apply payments made by borrowers; charging unauthorized fees for default-related services; and failing to properly process borrowers’ applications for loan modifications, according to the Attorney General’s Office.

The $45 million settlement includes $30.4 million in payments to borrowers.

In Kentucky, 548 borrowers are eligible for a payment:

  • A total of 300 who lost their property – 66 Kentuckians in 2009; 80 Kentuckians in 2010; 97 Kentuckians in 2011; and 57 Kentuckians in 2012. These Kentuckians will qualify for a minimum $840 payment from the settlement.
  • A total of 248 whose foreclosures had not been finalized – 28 Kentuckians in 2009; 55 Kentuckians in 2010; 62 Kentuckians in 2011; and 103 Kentuckians in 2012. These Kentuckians will receive a minimum $285 payment.

The settlement requires PHH to adhere to comprehensive mortgage servicing standards, conduct audits and provide audit results to a committee of states, according to the Attorney General’s Office.

The settlement does not release PHH from liability for conduct that occurred beginning in 2013.

Kentuckians who believe they might be a part of this settlement or have general questions may contact the Kentucky Attorney General’s Office at 502-696-5300.

The number of residents from bordering states impacted from the settlement includes: Illinois: 2,816; Indiana: 1,533; Missouri: 1,330; Ohio: 2,079; Tennessee: 815; Virginia: 1,071; West Virginia: 292.

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Tom Kenny joined ABC 36 News in June of 2001 as a General Assignment Reporter. A native of Peoria, Illinois, he graduated cum laude with a Bachelor of Arts in Mass Communications from Western Illinois University. He currently anchors ABC 36 News at 5pm, 6pm and 11pm. Tom has more than three decades of experience in broadcast journalism. He is the only broadcast journalist in Lexington television history to be honored with a national Edward R. Murrow Award. Tom was recognized for reporting on a story that gave a rare glimpse inside the secretive world of the Federal Witness Protection Program. He has won an Emmy Award for anchoring and another for investigative reporting, exposing the deceit and potential danger of online diploma mills. Tom has ten other Emmy nominations to his credit for investigative and feature reporting. He has won Associated Press Awards for reporting and anchoring. He has won two Addy Awards for excellence in promotional writing. Tom was the first broadcast journalist in Lexington TV history to be awarded the Silver Circle Award by the National Academy of Television Arts and Sciences. It is one of the highest honors given by NATAS. It recognizes television professionals who have performed distinguished service within the television industry for 25-years or more. Tom was honored for more than his longevity, he was recognized for making an enduring contribution to the vitality of the television industry and for setting high standards of achievement. He was also recognized for giving back to the community as a mentor, educator and volunteer. Tom also has network broadcast experience in radio and television having worked as a sports reporter for ESPN, Sportschannel, NBC Sports and the Breeders’ Cup. He was also the studio host and halftime producer for CBS Radio Sports’ College Football Game of the Week and covered the NFL for One-On-One Radio Sports. Prior to joining WTVQ-TV, Tom was Vice-President of the Houston Astros Minor League baseball team in Lexington. He was part of the original management team that brought professional baseball back to the Bluegrass after a nearly 50-year absence. Tom has lived in Lexington since 1984. In that time, he has been heavily involved with dozens of charity and civic groups, with a special emphasis on helping Veterans. He can be reached at tkenny@wtvq.com. You can also follow Tom on Facebook www.facebook.com/TomKennyABC and Twitter @TomKennyNews. Just click on the links at the top of the page.