Latest news with #PHH
Yahoo
4 days ago
- Business
- Yahoo
PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings
WEST PALM BEACH, Fla., June 04, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage ('PHH' or the 'Company'), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook. Fitch's most recent ratings upgrades, which are generally considered Above Average, include: Prime product upgraded to 'RPS2-' from 'RPS3+' Subprime product upgraded to 'RPS2-' from 'RPS3+' Alt-A product upgraded to 'RPS2-' from 'RPS3' Special servicing upgraded to 'RSS2-' from 'RSS3' Closed-End Second Lien and HELOC products upgraded to 'RPS3+' from 'RPS3' In addition, Fitch affirmed the Company's commercial small balance primary and special servicer ratings at 'SBPS2-' and 'SBSS2-', respectively, and residential master servicing rating at 'RMS3'. 'The ratings upgrade from Fitch reflects the strength of our balanced and diversified business and our commitment to operational and financial discipline while driving growth across multiple channels,' said Scott Anderson, Executive Vice President and Chief Servicing Officer. 'We are extremely proud of the industry top-tier servicing platform we have built and our experienced team that is dedicated to creating positive outcomes for our customers. As the mortgage market and consumer needs evolve, we continue to make purposeful investments to elevate the customer experience and implement innovative technology solutions for the benefit of our customers, clients, investors and employees.' Key drivers of PHH's upgraded and affirmed ratings and Stable Outlook: Reflect the Company's growth strategy and diversification between Originations and Servicing businesses Industry recognition for servicing excellence by Fannie Mae STARTM and Freddie Mac SHARPSM programs, and rated a Tier 1 servicer by HUD Acceleration of the Company's growth strategy through increased MSR retention, expanded product offerings, and improved recapture rates in its Consumer Direct channel Utilization of enhanced technology for increased customer engagement and personalized services Multi-layered enterprise risk management framework with a three lines of defense approach Highly tenured management team For more information on Fitch's ratings announcement, please read here. About Onity Group Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation's largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit For Further Information Contact: Investors: Valerie Haertel, VP, Investor Relations(561) 570-2969shareholderrelations@ Media: Dico Akseraylian, SVP, Corporate Communications(856) 917-0066mediarelations@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 days ago
- Business
- Associated Press
PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings
WEST PALM BEACH, Fla., June 04, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage ('PHH' or the 'Company'), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook. Fitch's most recent ratings upgrades, which are generally considered Above Average, include: In addition, Fitch affirmed the Company's commercial small balance primary and special servicer ratings at 'SBPS2-' and 'SBSS2-', respectively, and residential master servicing rating at 'RMS3'. 'The ratings upgrade from Fitch reflects the strength of our balanced and diversified business and our commitment to operational and financial discipline while driving growth across multiple channels,' said Scott Anderson, Executive Vice President and Chief Servicing Officer. 'We are extremely proud of the industry top-tier servicing platform we have built and our experienced team that is dedicated to creating positive outcomes for our customers. As the mortgage market and consumer needs evolve, we continue to make purposeful investments to elevate the customer experience and implement innovative technology solutions for the benefit of our customers, clients, investors and employees.' Key drivers of PHH's upgraded and affirmed ratings and Stable Outlook: For more information on Fitch's ratings announcement, please read here. About Onity Group Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation's largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit For Further Information Contact: Investors: Valerie Haertel, VP, Investor Relations (561) 570-2969 [email protected] Media: Dico Akseraylian, SVP, Corporate Communications (856) 917-0066 [email protected]
Yahoo
4 days ago
- Business
- Yahoo
PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings
WEST PALM BEACH, Fla., June 04, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage ('PHH' or the 'Company'), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook. Fitch's most recent ratings upgrades, which are generally considered Above Average, include: Prime product upgraded to 'RPS2-' from 'RPS3+' Subprime product upgraded to 'RPS2-' from 'RPS3+' Alt-A product upgraded to 'RPS2-' from 'RPS3' Special servicing upgraded to 'RSS2-' from 'RSS3' Closed-End Second Lien and HELOC products upgraded to 'RPS3+' from 'RPS3' In addition, Fitch affirmed the Company's commercial small balance primary and special servicer ratings at 'SBPS2-' and 'SBSS2-', respectively, and residential master servicing rating at 'RMS3'. 'The ratings upgrade from Fitch reflects the strength of our balanced and diversified business and our commitment to operational and financial discipline while driving growth across multiple channels,' said Scott Anderson, Executive Vice President and Chief Servicing Officer. 'We are extremely proud of the industry top-tier servicing platform we have built and our experienced team that is dedicated to creating positive outcomes for our customers. As the mortgage market and consumer needs evolve, we continue to make purposeful investments to elevate the customer experience and implement innovative technology solutions for the benefit of our customers, clients, investors and employees.' Key drivers of PHH's upgraded and affirmed ratings and Stable Outlook: Reflect the Company's growth strategy and diversification between Originations and Servicing businesses Industry recognition for servicing excellence by Fannie Mae STARTM and Freddie Mac SHARPSM programs, and rated a Tier 1 servicer by HUD Acceleration of the Company's growth strategy through increased MSR retention, expanded product offerings, and improved recapture rates in its Consumer Direct channel Utilization of enhanced technology for increased customer engagement and personalized services Multi-layered enterprise risk management framework with a three lines of defense approach Highly tenured management team For more information on Fitch's ratings announcement, please read here. About Onity Group Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation's largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit For Further Information Contact: Investors: Valerie Haertel, VP, Investor Relations(561) 570-2969shareholderrelations@ Media: Dico Akseraylian, SVP, Corporate Communications(856) 917-0066mediarelations@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
23-05-2025
- Politics
- Time of India
State pushes for cleaner ration distribution system
Karnataka Administrative Reforms Commission Siddaramaiah Antyodaya Anna Yojana The Food Inspector will act on the final verification results within one month by cancelling, suspending, or converting PHH cards to Non-Priority Household cards.' –report In a significant step to ensure that subsidised food grains reach only deserving families, a report by the sub-committee of the, presented to Chief Ministeron Thursday, proposed an intensive ground-level verification drive. The aim is to identify and eliminate ineligible ration card holders under the(AAY) and Priority Household (PHH) categories. The verification process will be carried out at the ward level in urban areas by specially constituted teams, in an effort to make the distribution system more transparent and per the new guidelines proposed by a sub-committee headed by the Additional Chief Secretary and Development Commissioner, each urban ward will have a three-member verification team comprising two members from the vigilance committee and one revenue officer or sanitation worker. These teams will visit households and verify the eligibility of ration card holders based on four exclusion criteria outlined by the state. The verification work must be completed within one month of receiving the list from the respective Urban Local Body (ULB).To maintain transparency, the report proposed that ULBs are mandated to publish the findings of the verification exercise within seven days. Lists of cardholders recommended for retention, suspension, or cancellation will be displayed for a period of three months at Fair Price Shops, on government websites, and on ward notice boards. If a cardholder is found ineligible due to the death of the original cardholder, their family will have a three-month window to revalidate their eligibility and claim benefits under a new or updated card. However, those who voluntarily surrender their cards will not be given this window.'After the preliminary list is released, a 15-day window will be given for the public to raise objections. Objections can be submitted either in person or online with appropriate supporting documents. The Food Inspector is required to cross-check at least 15% of the verified list to ensure accuracy. Following the resolution of objections, final lists of eligible and ineligible beneficiaries will be published again at all public locations and online', the report report recommended that the Food Inspector will act on the final verification results within one month by cancelling, suspending, or converting PHH cards to Non-Priority Household (NPHH) cards. An Action Taken Report (ATR) will be submitted to the district-level office to ensure record-keeping and accountability. If a beneficiary has not availed rations for six months or fails to respond to notices within three months, the card may be suspended. If the suspension exceeds three months or if exclusion criteria are met, the card will be converted to NPHH. In cases of voluntary surrender, proven fraud, or the death of the cardholder, the card will be cancelled safeguard the interests of eligible beneficiaries, the government has set up a robust appeals process. Any individual aggrieved by the decision of the ULB, Gram Panchayat, or Food Inspector can file an appeal before the District Grievance Redressal Officer (DGRO) within 30 days. Appeals can be filed online through an end-to-end digital platform and must be resolved within 30 days. During this period, appellants will continue to receive ration benefits. If the DGRO's decision is delayed or found unsatisfactory, a further appeal can be made to the State Commission, the report added.
Yahoo
30-04-2025
- Business
- Yahoo
Why Park Ha Biological Technology Co., Ltd. (PHH) is Surging in 2025
We recently published a list of . In this article, we are going to take a look at where Park Ha Biological Technology Co., Ltd. (NASDAQ:PHH) stands against other consumer defensive stocks that are surging in 2025. The stock market has taken a sharp turn after two years of blockbuster gains, and many investors have felt uneasy. These investors are now turning to consumer defensive stocks due to growth stocks sputtering amid a new wave of tariffs rattling global trade. Consumer defensive stocks provide essential goods and services that people rely on regardless of economic conditions and are more insulated during market downturns. Investors have piled into consumer defensive stocks for that reason, and it's a good idea to look into the biggest winners in this sector. Even during bear markets, there are pockets of the market that perform exceptionally well. For example, I identified Why These 15 Healthcare Stocks Are Surging in 2025 in another article. For this article, I screened the best-performing consumer defensive stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). vgstudio/ Number of Hedge Fund Holders In Q4 2024: 1 Park Ha Biological Technology Co., Ltd. (NASDAQ:PHH) develops and sells private-label skincare products and operates franchise beauty stores, mainly in China. The stock is up significantly so far in 2025, with the most significant driver being its successful initial public offering on December 27, 2024, where it raised $4.8 million at $4.00 per share. After the IPO, the stock surged rapidly. The company's rapid price appreciation is largely attributed to post-IPO momentum and heightened retail interest, particularly from overseas investors, as well as its niche positioning in the skincare market focused on solutions for problematic skin and a dual business model combining direct sales with franchise expansion. Park Ha Biological Technology Co., Ltd. (NASDAQ:PHH) stock is up 119.08% year-to-date. Overall, PHH ranks 3rd on our list of consumer defensive stocks that are surging in 2025. While we acknowledge the potential of PHH as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PHH but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
