January 3, 2018 / 4:33 PM / a year ago

Forty-nine states, District of Columbia sue PHH for "alleged misconduct" over single-family mortgages

WASHINGTON, Jan 3 (Reuters) - Forty-nine states and the District of Columbia have reached a $45 million settlement with mortgage lender PHH Mortgage Corporation over "alleged misconduct" tied to its servicing single-family mortgages.

The settlement resolves allegations that the lender mistreated borrowers from 2009 to 2012, including failing to apply payments promptly, charging unauthorized fees, and threatening foreclosure to borrowers engaged in loss mitigation.

The company did not admit to wrongdoing as part of the settlement. (Reporting by Pete Schroeder Editing by Chizu Nomiyama)

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