If you are behind on a mortgage serviced by PHH Mortgage — you need to know that PHH Mortgage Corporation officially rebranded as Onity Mortgage Corporation on March 23, 2026. The company is the same, the servicer is the same, and your loan remains with the same organization. Only the name has changed. For months and years to come, many homeowners will still refer to their servicer as PHH Mortgage — because their most recent statements said PHH, or because they have been dealing with PHH's loss mitigation team for an extended period. Whether you know your servicer as PHH Mortgage or Onity Mortgage, the modification process, the available programs, and the approach to protecting your home are the same.
PHH Mortgage / Onity Mortgage is a subsidiary of Onity Group Inc. — formerly Ocwen Financial Corporation, which rebranded to Onity Group in June 2024. The corporate chain is: Onity Group Inc. (NYSE: ONIT, parent company) → Onity Mortgage Corporation (the servicer you interact with, formerly PHH Mortgage Corporation). NewRez — sometimes confused with PHH because of a prior subservicing relationship — is a completely separate company owned by Rithm Capital. NewRez is not affiliated with PHH Mortgage, Onity Mortgage, or Ocwen/Onity Group.
Like all servicers, PHH Mortgage / Onity Mortgage administers modifications on behalf of the investor who owns your loan — Fannie Mae, Freddie Mac, FHA, VA, USDA, or a private investor. PHH/Onity Mortgage does not set the modification programs available to you. The investor who owns your loan sets those programs, and PHH/Onity Mortgage administers them according to the investor's guidelines. What PHH/Onity Mortgage's loss mitigation team presents to you may not reflect the full picture of what you are entitled to under your investor's rules.
PHH Mortgage / Onity Mortgage has historically serviced a substantial portfolio of private label mortgage-backed securities — loans owned by private trusts rather than government-sponsored enterprises. This is a significant characteristic: for private label loans, the modification terms and options are governed by individual pooling and servicing agreements that vary considerably between trusts. A professional who can identify which trust owns your loan and review the applicable trust documents is essential for navigating the PHH/Onity Mortgage modification process correctly for private label loans.
Fannie Mae and Freddie Mac — Flex Modification: PHH/Onity Mortgage services conventional Fannie and Freddie loans. For these loans, the servicer must evaluate borrowers for the Flex Modification — targeting approximately 20% monthly payment reduction through interest rate reduction, term extension, and principal forbearance. The calculation follows standardized GSE guidelines that PHH/Onity Mortgage must apply correctly. Professional review of the modification offer identifies errors in calculations that are correctable through appeal.
FHA Loans — HUD Loss Mitigation Waterfall: PHH/Onity Mortgage services FHA loans and must follow HUD's mandatory loss mitigation waterfall before foreclosing — including the FHA partial claim. The partial claim brings a delinquent FHA loan current through a zero-interest subordinate lien without increasing the monthly payment. PHH/Onity Mortgage is required to evaluate qualifying FHA borrowers for the partial claim but does not always proactively offer it. Professional knowledge of when the FHA partial claim applies and how to demand the servicer's evaluation of it is a significant advantage for FHA borrowers.
VA Loans: For VA loans serviced by PHH/Onity Mortgage, VA regulations require exhausting all reasonable means of avoiding foreclosure. The VA regional loan center can intervene when the servicer is not fulfilling its obligations to veteran borrowers. This oversight mechanism creates institutional accountability that professional advocacy can invoke on behalf of veteran borrowers.
Private Label Securities: PHH/Onity Mortgage services a significant volume of private label mortgage-backed securities. The modification options for these loans depend on the specific pooling and servicing agreement governing the trust — these vary significantly, and professional review of trust documents is often necessary to understand what modification is actually available.
Behind on Your PHH Mortgage or Onity Mortgage? Find Out Which Programs Apply
The modification programs available depend on who owns your loan — not on what PHH/Onity Mortgage presents. A professional identifies your investor, which programs apply, and whether the servicer has calculated your modification correctly.
See My Options →My statement says PHH Mortgage but I've heard it is now called Onity Mortgage — is this the same company?
Yes. PHH Mortgage Corporation officially rebranded as Onity Mortgage Corporation on March 23, 2026. It is the same company, the same servicer, and your loan has not been transferred. Only the name has changed.
What happens after I submit my information?
A mortgage relief professional reviews your PHH/Onity Mortgage loan situation, identifies the investor, confirms which modification programs apply, and determines what must happen to achieve a successful modification.
PHH Mortgage / Onity Mortgage's modification application requires the completed borrower assistance form, the two most recent pay stubs for all employed borrowers, the two most recent years of federal tax returns, the two to three most recent months of complete bank statements for all accounts, a signed and dated hardship letter, a monthly income and expense statement, and documentation of all additional income. Completeness is defined by the servicer's checklist for the specific loan type. An application missing any required document is treated as incomplete and does not trigger federal dual tracking protections against foreclosure advancement.
PHH Mortgage / Onity Mortgage has historically had a high-volume portfolio with application management challenges similar to other distressed-portfolio-focused servicers. Professional preparation of the application package — ensuring every document is current, complete, and correctly formatted — ensures the application triggers dual tracking protections on first submission rather than after multiple rounds of re-submission.
Income insufficient for modified payment: The servicer determined the modified payment is not affordable. If income was incorrectly calculated or income sources were missed, this determination may be wrong and challengeable through appeal.
Investor restrictions — private label: For private label loans, PHH/Onity Mortgage claims the trust restricts modification. This requires professional review of the actual pooling and servicing agreement — which sometimes allows options that the servicer's standard workflow did not surface.
NPV test negative: The net present value analysis determined foreclosure produces more investor value. NPV inputs are commonly miscalculated and identifiable through professional review.
Incomplete application: Documents were missing or outdated. Resubmitting with a complete package immediately resolves this.
Was Your PHH or Onity Mortgage Modification Denied? Find Out What Comes Next
Many PHH/Onity Mortgage denials contain errors or do not accurately reflect what the applicable trust documents allow. A professional review identifies whether the denial is correct or challengeable.
See My Options →Is there any cost to find out what I qualify for?
Submitting your information costs nothing. A professional reviews your situation and discusses your options before any commitment is made.
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Mortgage Options Network is operated by Pipeline Harbor Digital LLC. We connect homeowners with experienced mortgage relief professionals who can help evaluate their options.