Edition:
United Kingdom

PHH Corp (PHH.N)

PHH.N on New York Stock Exchange

10.89USD
21 Jun 2018
Change (% chg)

$0.01 (+0.09%)
Prev Close
$10.88
Open
$10.87
Day's High
$10.90
Day's Low
$10.87
Volume
89,942
Avg. Vol
126,766
52-wk High
$15.00
52-wk Low
$8.02

Latest Key Developments (Source: Significant Developments)

PHH Corp Comments On Settlement With Multi-State Mortgage Committee, State Attorneys General
Wednesday, 3 Jan 2018 

Jan 3 (Reuters) - PHH Corp ::PHH CORPORATION COMMENTS ON SETTLEMENT WITH MULTI-STATE MORTGAGE COMMITTEE AND STATE ATTORNEYS GENERAL.PHH SAYS SETTLEMENT RESOLVES FINDINGS RELATED TO LEGACY MORTGAGE SERVICING ACTIVITIES OCCURRING BETWEEN JAN 1, 2009 AND DEC 31, 2012.PHH - AS PER SETTLEMENT, CO TO IMPLEMENT TESTING & REPORTING PROCESS TO COMPLY WITH SERVICING STANDARDS FOR 3 YRS.  Full Article

PHH Corp Q3 loss per share $1.14
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - PHH Corp ::PHH Corporation announces third quarter 2017 results.Q3 loss per share $1.14.PHH Corp - ‍board of directors has provided a new authorization for up to $100 million of share repurchases as next step in capital return plan​.PHH Corp - qtrly ‍net revenues $121 million versus $197 million​.  Full Article

PHH says buyer agreed to buy certain assets and liabilities held by PHH Home Loans and RMR
Wednesday, 15 Feb 2017 

Phh Corp :PHH-Buyer agreed to buy certain assets and liabilities held by PHH Home Loans and RMR for a cash purchase price of $70 million to be paid to PHH Home Loans.  Full Article

PHH posts Q4 loss per share $2.49
Wednesday, 15 Feb 2017 

PHH Corp : PHH Corporation announces fourth quarter 2016 results . Q4 loss per share $2.49 . Q4 earnings per share view $-0.54 -- Thomson Reuters I/B/E/S . Qtrly net revenues $ 72 million versus $ 123 million .Qtrly core loss per share $1.86.  Full Article

PHH Corporation announces sale of certain assets of PHH Home Loans
Wednesday, 15 Feb 2017 

PHH Corp : PHH Corporation announces sale of certain assets of PHH Home Loans . PHH Corp - expects to realize cash proceeds of $92 million before estimated transaction and other costs . PHH Corp - company expects to realize cash proceeds of $92 million before estimated transaction and other costs . PHH Corp - transaction is expected to include a series of interim asset sale closings with initial closing targeted to occur in June 2017 .PHH Corp - guaranteed rate affinity will acquire certain assets of PHH Home Loans' mortgage operations.  Full Article

PHH Corp issues statement in response to D.C. Circuit Court of Appeals opinion
Tuesday, 11 Oct 2016 

Phh Corp :PHH Corp says issues statement regarding opinion issued by D.C. Circuit Court of Appeals.  Full Article

Phh corp estimates Merrill Lynch originations to contribute about $45 mln of pre-tax earnings for FY 2016
Tuesday, 4 Oct 2016 

Phh Corp: Unit got notice from Bank of America, exercising its right to terminate, effective as of march 31, 2017, ‍agreement with unit which ‍provides private label origination services on behalf of Merrill Lynch ​ . ‍Bank of America N.A. has contractual right to request termination, transition assistance services up to 12 months following March 31, 2017 termination date .Estimates Merrill Lynch originations will contribute approximately $45 million of pre-tax earnings for fiscal year 2016.  Full Article

PHH says HSBC Bank USA to sell mortgage servicing rights currently subserviced by PHH unit
Thursday, 25 Aug 2016 

PHH Corp : Informed by HSBC Bank USA that it entered into agreement to sell mortgage servicing rights with respect to mortgage loans . Rights with respect to approximately 139,000 mortgage loans currently subserviced on behalf of HSBC by unit PHH Mortgage Corporation . Says advised that the purchaser of the mortgage servicing rights does not intend to retain PHH Mortgage Corporation as subservicer . PHH Corp says expects servicing responsibilities with respect to subject mortgage loans to be transferred to purchaser or its designee in Q4 2016 . PHH Corp says as of June 30, 2016, the units expected to transfer accounted for approximately 29 pct of the company’s total subservicing portfolio units . Says estimates that action represents a reduction in pre-tax earnings of approximately $10 million on an annualized basis . PHH Corp says sale of mortgage servicing rights does not impact HSBC’s origination activity with the company . Expects total subservicing units to decline by approximately 229,000, or approximately 47 pct of total subservicing units as of June 30, 2016 . Taking actions intended to realign direct operating costs, including actions to re-engineer facilities and overhead costs Source: (http://bit.ly/2bIzvgt ) Further company coverage: [PHH.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

PHH Corp posts Q2 loss per share $0.22
Monday, 8 Aug 2016 

PHH Corp : Phh Corporation announces second quarter 2016 results . Q2 loss per share $0.22 . Qtrly core loss per share $0.08 . Says "taking appropriate actions to reallocate capacity to growth opportunities and reduce expenses as necessary" . Qtrly GAAP net revenues $ 196 million versus $ 237 million . Q2 earnings per share view $-0.46 -- Thomson Reuters I/B/E/S . Says "continue to see a trend by Merrill Lynch to insource a significant portion of their mortgage production volume" . Says "in past week, Merrill Lynch has advised us of their intention to insource additional volume" .PHH says Merrill Lynch's actions would result in total volume reductions representing approximately 60 pct of their total 2015 loan closing dollar volume.  Full Article

Silver Point Capital reports 8.3 pct passive stake in PHH
Monday, 18 Jul 2016 

PHH Corp : Silver Point Capital, L.P.'s stake in PHH Corp is a passive stake .Silver Point Capital, L.P. reports 8.3 pct stake in PHH Corp as of July 6, 2016 - SEC filing.  Full Article

BRIEF-PHH Corp Reports Q1 Loss Per Share $0.92

* ROVIDES UPDATE ON PROPOSED MERGER WITH OCWEN FINANCIAL CORPORATION Source text for Eikon: Further company coverage: