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PHH was founded by Duane Peterson, Harley Howell and Richard Heather in 1946 in Mount Laurel, New Jersey and incorporated in 1953 as a Maryland corporation [1] providing mortgage services, employee relocation services, fleet management services.
Onity has been servicing residential mortgage loans since 1988 and subprime mortgage loans since 1994. [ citation needed ] As of 2010, Ocwen's subprime servicing volume was $56 billion, ranking it fourth in subprime servicing behind American Home Servicing ($78 billion), Bank of America/Countrywide ($82 billion), and Chase Home Finance ($90 ...
Guaranteed Rate Companies, doing business as Rate, is an American residential mortgage company headquartered in Chicago, Illinois. [2] Founded in 2000 by Victor Ciardelli, the company had $55 billion in funded volume in 2022, down 25% since 2020. [3]
United Wholesale Mortgage was founded by Jeff Ishbia in 1986 while working as an attorney. He founded the company as a side business under the name Shore Mortgage. [4] It started off focusing on conventional and FHA loans and the name was later changed from Shore Mortgage to United Wholesale Mortgage. [5] By 2003, the company had 13 employees.
In 2014 Homebridge funded $6.36 billion in home mortgage loans, [7] and nearly $12 billion in its servicing portfolio. [8] The company increased its funded home loans 36% in 2015 to $8.7 billion. [9] Also in 2014, the company was ranked number ten on Mortgage Executive magazine's list of the "Top 100 Mortgage Companies in America". [10]
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Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...
The annual Mortgage Insurance Premium (MIP) for FHA-insured mortgages varies depending on factors such as the base loan amount, loan-to-value (LTV) ratio, and loan term. For a typical 30-year mortgage, the annual MIP rate ranges from 0.80% to 1.05%. Homebuyers who opt for a 15-year mortgage experience lower MIP rates, ranging from 0.45% to 0.95%.