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.”
What’s LIT reading Today?
A freshly downloaded legal complaint by Compu-Link aka Celink alleging ‘bad faith’ by PHH/Ocwen, which has brought us to a Waterfall in NYC’s financial services sector. You can learn about acronyms like ABS, WAM, MAM, PHH here: https://t.co/R7vA9yzN6x pic.twitter.com/HKhXjbsDZg
— lawsinusa (@lawsinusa) September 9, 2023