Dino J. Guilmette v. PHH Mortgage Services FKA Ocwen Loan Servicing LLC

Syllabus

The plaintiff, Dino J. Guilmette, appealed a judgment of the Superior Court in favor of the defendants, PHH Mortgage Corporation d/b/a PHH Mortgage Services, successor to Ocwen Loan Servicing, LLC, and Wells Fargo Bank, N.A., as Trustee for Option One Mortgage Loan Trust 2007-3, Asset-Backed Certificates, Series 2007-3 (collectively, defendants), following the grant of the defendants' motion for summary judgment. The plaintiff argued that, after the sale of the plaintiff's property, the defendants miscalculated the shared appreciation amount owed under the shared appreciation modification, an agreement modifying the plaintiff's mortgage, because of an ambiguity in the agreement. The Supreme Court concluded that the modification agreement was unambiguous because it contained an appreciation disclosure that illustrated how the shared appreciation amount would be calculated in the event of a sale of the subject property. Accordingly, the Supreme Court affirmed the judgment in favor of the defendants.