Bankers

Reverse Mortgage Subservicer Celink Sues PHH Mortgage over Bad Faith and Deceptive Practices

PHH fully intended to poach and compete directly against Celink in the reverse mortgage subservicing industry, despite non-compete provision.

Compu-Link Corp. v. PHH Mortgage Corp.

(2:22-cv-00983-KJM-KJN)

District Court, E.D. California

JUN 3, 2022 | REPUBLISHED BY LIT: SEP 9, 2023
SEP 9, 20 2023

Above is the date LIT Last updated this article.

PHH DEVISES A PLAN TO COMPETE WITH CELINK AND POACHES CELINK’S CLIENTS

“PHH concocted an elaborate scheme to siphon the subservicing of thousands of loans away from Celink that would feed directly into the RMS
Platform before PHH ultimately acquired it. In other words, PHH was secretly preparing to enter the reverse mortgage subservicing business to compete directly with Celink.”

We’ll be tracking this case as it heads for ‘settlement’.

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Reverse Mortgage Subservicer Celink Sues PHH Mortgage over Bad Faith and Deceptive Practices
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