Stop PHH Mortgage

                I am writing this letter today to bring your attention to what USA Today named the 11th largest mortgage servicer (6/26/08), PHH Mortgage, with headquarters in Mt. Laurel, New Jersey.  What is a mortgage servicer?  Perhaps you could shed some light on that.  But more importantly, why is a company still in business with three lawsuits and a class action lawsuit against it, 125 Better Business Bureau (BBB of NJ) complaints against it, and hundreds of complaints against it on various websites? (See Google searches: Lawsuits/Complaints/Class Action Lawsuits and PHH Mortgage.)

                I understand that we made a commitment to pay our mortgages but we were never given a chance to choose who would service the mortgage and we certainly did not choose PHH Mortgage.  Plus, I have yet to find a way to switch my mortgage servicer as I would my cell phone provider. 

                Please for a moment think of our consumer society.  We can choose among a few cell phone carriers and we can decrease or increase our monthly plans when needed.  We can choose between cable, satellite, or antenna for our television watching.  We can choose to decrease our cable channels to save money.  We can decrease our grocery intake, electricity usage, and traveling to save money.  We also expect to be able to adjust our mortgages if needed. 

                I understand that in years past, the banks would just take your house or car if you didn%u2019t pay for it.  But, we are in a completely different era now.  We are in the era of the AIG and bank bail-out controversy.  We have seen Wall Street rewarded time and again for breaking our trust and making money because rules were not there and their moral compasses were broken.  We were fooled and we deserve regulation, honesty and fairness.

                I am a victim of PHH Mortgage%u2019s bad business practices and I am not alone.  When the taxpayers bailed out AIG and banks, the situation generated plenty of media and congressional attention.  Shouldn%u2019t mortgage servicers such as PHH Mortgage receive the same amount of attention?  After all, what are they? What do they do? What rules do they play by? Why can%u2019t we choose and switch our providers?  PHH Mortgage and others like them are doing damage to many Americans by placing a scarlet %u201CF%u201D for Foreclosure in their credit reports.  Don%u2019t we deserve more from a company that can harm us so much? 

                                                                                                                                                                Sincerely