#subservicing

#subservicing

FOA will acquire PHHs existing pipeline of reverse mortgages and expects to assume some of PHH's US-based reverse originations employees. And while PHH will stop originating reverse loans, it will continue to securitize reverse mortgage buyout loans. PHH agreed to sell reverse MSRs comprised of some 40,000 Ginnie Mae-backed HECMs. The loans had a total unpaid principal balance of $9.6 billion at the end of September.