Is Hsbc And Phh Mortgage The Same?

In the world of finance and mortgages, there’s often confusion surrounding the relationships between different financial institutions and their subsidiaries. HSBC, a well-known global bank, has made headlines in the past for its involvement in mortgage lending. On the other hand, PHH Mortgage is a name that might not be as familiar to everyone. Are these two entities the same, or do they operate independently? In this article, we will explore the connections and distinctions between HSBC and PHH Mortgage.

HSBC: A Global Financial Giant

What is HSBC?

HSBC, short for Hongkong and Shanghai Banking Corporation, is a British multinational investment bank and financial services holding company. With a rich history dating back to the 19th century, HSBC has established itself as one of the largest and most influential banks in the world. It operates in more than 60 countries and serves millions of customers globally.

HSBC Mortgage Services

HSBC offers a wide range of financial products and services, including mortgage lending. Many individuals and families turn to HSBC when seeking home financing solutions due to its reputation and extensive network. HSBC’s mortgage services cater to various needs, from first-time homebuyers to seasoned real estate investors.

PHH Mortgage: An Overview

What is PHH Mortgage?

PHH Mortgage, on the other hand, is a name that might not be as recognizable as HSBC. PHH Mortgage is a subsidiary of the Ocwen Financial Corporation, a financial services holding company specializing in mortgage services. PHH Mortgage, with its headquarters in Mount Laurel, New Jersey, focuses primarily on providing mortgage solutions to homeowners in the United States.

HSBC and PHH Mortgage: The Connection

So, is there a connection between HSBC and PHH Mortgage? The answer is yes, but it’s essential to clarify the nature of this connection. HSBC and PHH Mortgage are not the same entity; they operate independently. However, there is a historical link between the two.

HSBC previously had a significant presence in the mortgage market in the United States. At one point, HSBC’s mortgage servicing rights (MSRs) were held by PHH Mortgage. This arrangement meant that PHH Mortgage was responsible for managing and servicing the mortgages that were originally originated by HSBC. However, it’s crucial to note that this relationship changed over time.

The Evolution of the Relationship

The Sale of Mortgage Servicing Rights

In the financial industry, the sale of mortgage servicing rights is a common practice. It allows banks and financial institutions to transfer the responsibility of managing mortgage accounts to other specialized companies. In the case of HSBC, the decision to sell its mortgage servicing rights to PHH Mortgage was part of a strategic move to streamline its operations and focus on its core banking services.

PHH Mortgage’s Role

PHH Mortgage, as a mortgage servicer, took on the role of handling the day-to-day operations of these mortgage accounts. This included tasks such as collecting payments, managing escrow accounts, and responding to customer inquiries. While PHH Mortgage serviced these loans, the ownership of the loans remained with HSBC.

Subsequent Developments

It’s worth noting that the financial industry is dynamic, and companies often make strategic decisions to adapt to changing market conditions. Over time, the relationship between HSBC and PHH Mortgage evolved. HSBC made decisions to change its mortgage servicing arrangements, which included transitioning some of its servicing responsibilities to other entities. This led to PHH Mortgage’s reduced involvement in servicing HSBC-originated loans.

Key Takeaways

  • HSBC and PHH Mortgage are not the same entity; they operate independently.
  • PHH Mortgage previously serviced mortgage loans that were originally originated by HSBC.
  • The relationship between HSBC and PHH Mortgage evolved, and HSBC made strategic decisions regarding its mortgage servicing arrangements.


In the world of finance and mortgages, clarity is essential. While HSBC and PHH Mortgage are connected through historical mortgage servicing arrangements, they are distinct entities operating independently. HSBC, with its global presence, offers a wide range of financial services, including mortgage lending. PHH Mortgage, a subsidiary of Ocwen Financial Corporation, specializes in mortgage services, primarily in the United States. Understanding these distinctions can help individuals make informed decisions when it comes to their mortgage needs.


Is PHH Mortgage a subsidiary of HSBC?

No, PHH Mortgage is not a subsidiary of HSBC. It is a subsidiary of the Ocwen Financial Corporation and operates independently.

Can I still get a mortgage through HSBC?

Yes, HSBC continues to offer mortgage services. You can inquire about their mortgage products and services through their official channels.

What happened to the mortgage servicing rights that PHH Mortgage had for HSBC-originated loans?

HSBC made strategic decisions to change its mortgage servicing arrangements over time. Some of the servicing responsibilities for HSBC-originated loans were transitioned to other entities.

Are there any advantages to using HSBC for mortgage services?

HSBC’s extensive global network and reputation in the financial industry can be advantageous for individuals seeking mortgage financing. However, it’s essential to compare mortgage offers from different lenders to determine what suits your specific needs.

How can I contact PHH Mortgage or HSBC for mortgage-related inquiries?

You can contact PHH Mortgage and HSBC through their official websites or customer service channels for inquiries related to mortgages and other financial services.

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