PHH Mortgage Corp. and Zillow Home Loans are expanding their existing correspondent relationship to a strategic servicing partnership.

It began earlier this year when Zillow Home Loans selected PHH Mortgage as a subservicer for its residential mortgage portfolio. PHH has purchased loans on a correspondent and co-issue basis since 2019 and 2021, respectively, and the two companies completed an initial transfer of loans in August.

PHH totaling servicing portfolio is approximately $296 billion, with $167 billion from subservicing. The mortgage servicer has been recognized for servicing excellence by Freddie Mac’s Servicer Honors and Rewards Program in the top-tier servicing group for three consecutive years, by Fannie Mae’s Servicer Total Achievement and Rewards for two consecutive years, and has achieved Tier 1 servicer ranking with the U.S. Department of Housing and Urban Development.

No other servicer has been more highly decorated with top awards from all three agencies in the last two years, PHH stated in a release.

“Our subservicing agreement with Zillow Home Loans is consistent with one of our core business strategies of growing our subservicing portfolio and strengthening our standing as one of the premier subservicers in the industry,” PHH Executive Vice President and Chief Growth Officer George Henley said in a release. “We’re excited to be working with Zillow Home Loans, Zillow’s affiliated mortgage lender, to support their vision to create a more seamless real estate experience.”