Frequently Asked Questions

How do I determine what kind of loan I have?
If you’re not sure what type of loan you have, you can consult the following resources:

  • Check your HUD-1 Statement or Closing Disclosure from your loan closing. The top of the first page of the document contains a series of check boxes. The “FHA” box should be checked if you have a loan insured by the Federal Housing Administration. Similarly, the “VA” box should be checked if you have a loan guaranteed or insured by the Department of Veterans Affairs.
  • You can use the Federal Home Loan Mortgage Corporation (Freddie Mac) loan lookup tool (available at https://myhome.freddiemac.com/resources/loanlookup) to determine if your loan has been purchased or securitized by Freddie Mac.
  • You can use the Federal National Mortgage Association (Fannie Mae) loan lookup tool (available at https://yourhome.fanniemae.com/calculators-tools/loan-lookup#_blank) to determine if your loan has been purchased or securitized by Fannie Mae.
  • If in doubt, you can call us at 1-800-936-8705. 

I was on a COVID forbearance plan. Will my 1098 be impacted?
If you did not make payments while on a forbearance, then the amount of mortgage interest received from payer(s)/borrowers (Box 1 on the Form 1098) may be less than prior years. Since every situation is unique, we encourage you to reach out to a trusted tax professional for advice before the end of the tax year.
 
Will I be required to make a lump sum payment at the end of my forbearance period?
If you cannot afford to pay the missed payments in a lump sum at the end of forbearance, you will not be required to do so, as long as we reach an alternate solution, which we will call you at the end of your applicable forbearance period to discuss. This could include a repayment plan, deferral of the payments to the end of the loan, or a loan modification, depending on the investor guidelines and status of the loan.

What specific options will be available for me at the very end of my forbearance period?
As a mortgage servicer, PHH Mortgage must comply with guidelines set forth by the entity that is the owner or investor of the mortgage. These entities include Fannie Mae, Freddie Mac, Department of Veterans Affairs (VA), the Federal Housing Administration (FHA) and other private companies.