Northfield Bank, a New Jersey-based financial services company, has selected PHH Mortgage, a subsidiary of a private label outsourcing company PHH, as a strategic partner to outsource its mortgage loan origination and servicing business.
PHH Mortgage provides full-service capabilities for originating, processing, closing and servicing mortgage loans. It also provides mortgage solutions for financial institutions, real estate brokers, and government agencies.
Kenneth Doherty, executive vice president and chief lending officer at Northfield Bank, said: “Partnering with PHH will allow us to offer our customers faster approvals, streamlined documentation requirements, and 24-7 access to their loan processing status. Additionally, customers will have the ability to initiate a loan application online.”
Bob Andwood, senior vice president of private label solutions at PHH Mortgage, said: “PHH Mortgage is pleased to provide Northfield Bank with a fully integrated, end-to-end, mortgage platform, which will help to deliver a best in class mortgage program consistent with its customer value proposition, and create long term competitive advantage.”