PHH Mortgage will provide Citizens with mortgage loan processing, servicing of new mortgage loan originations, certain secondary marketing functions, and other mortgage-related loan origination services. The arrangement will allow Citizens’ mortgage loan officers to use web-based software while PHH employees will do all the loan-processing work using the Citizens name.
William Hartman, president and CEO of Citizens Republic Bancorp, said: Partnering with PHH will help make our mortgage business stand out in a tough Midwest mortgage environment. Our new mortgage loan operating model increases our ability to originate loans through more channels with quicker loan decisions and closings.
The alliance with PHH gives Citizens improved access to technology and enhances our operational excellence, while also offering competitive pricing and a positive client experience that leverages the Citizens name to create brand equity.
