PHH Mortgage Corp. became the latest mortgage servicer to declare it is not initiating a foreclosure moratorium.
The Mt. Laurel, N.J., company said Thursday that it had received inquiries regarding its foreclosure practices and is cooperating with its regulators. But after a comprehensive review of its procedures, it said, it has no plan to halt foreclosures in any state.
"PHH Mortgage takes its mortgage servicing and compliance responsibilities very seriously and is committed to treating its borrowers fairly," said Jerry Selitto, the president and chief executive of PHH Mortgage's parent, PHH Corp.