PHH Mortgage Corp. became the latest mortgage servicer to declare it is not initiating a foreclosure moratorium.
In a statement issued this morning, Mt. Laurel, N.J.-based PHH Corp. president Jerry Selitto said that PHH Mortgage has received a number of inquiries regarding its foreclosure practices.
It is actively cooperating with its regulators, is responding to inquiries and has completed a comprehensive review of its foreclosure procedures.
Based on this review, PHH Mortgage has not halted foreclosures in any states and has no plans to initiate a foreclosure moratorium.
"PHH Mortgage takes its mortgage servicing and compliance responsibilities very seriously and is committed to treating its borrowers fairly," Selitto said.