PHH Mortgage — now officially Onity Mortgage as of March 23, 2026 — offers forbearance, repayment plans, and loan modification for homeowners facing hardship. The programs available depend on the investor who owns your loan, not on PHH/Onity Mortgage's preferences. PHH/Onity Mortgage services a significant volume of private label mortgage-backed securities — loans owned by private trusts where modification terms depend on individual pooling and servicing agreements that vary between trusts. Identifying the right relief option requires knowing which investor owns your loan and what that investor's guidelines actually allow.
PHH/Onity Mortgage offers forbearance under each investor's guidelines. Terms and exit options vary by investor — Fannie and Freddie, FHA, VA, USDA, and private label each have different forbearance durations and exit requirements. The exit is the critical planning issue. Deferred payments must be resolved when forbearance ends, through lump sum reinstatement, repayment plan, or modification. For private label loans, the forbearance exit options depend on the specific trust documents — understanding these before entering forbearance prevents being surprised by unfavorable exit terms.
Repayment plans add outstanding arrears to monthly payments over a defined period and work best for temporary hardships with recovered income. Loan modification permanently changes the mortgage terms through the applicable investor program — Flex Modification for GSE loans, HUD loss mitigation waterfall including the partial claim for FHA, VA modification for veteran borrowers, and trust-document-governed terms for private label loans. The FHA partial claim is a particularly powerful tool that PHH/Onity Mortgage must evaluate qualifying FHA borrowers for — but it is not always proactively offered. Professional knowledge of when to demand this evaluation is a significant advantage for FHA borrowers at this servicer.
Find Out What PHH / Onity Mortgage Relief Options Apply to Your Specific Loan
A professional identifies your investor, reviews applicable trust provisions for private label loans, and determines which relief option produces the best long-term outcome for your situation.
See My Options →What happens after I submit my information?
A mortgage relief professional reviews your PHH/Onity Mortgage loan situation, identifies your investor, and determines which relief options apply and how to access the most favorable one.
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.