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PHH, DOJ reach $75M settlement

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PHH, DOJ reach $75M settlement

PHH Corp. has agreed to pay roughly $75 million to the U.S. Department of Justice to resolve issues concerning legacy mortgage origination and underwriting activities. The company did not admit liability.

The settlement agreements cover certain mortgage loans insured by the Federal Housing Administration between Jan. 1, 2006, and Dec. 31, 2011, some mortgage loans insured by the U.S. Department of Veteran Affairs and some mortgage loans sold to Fannie Mae and Freddie Mac.