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Last $24.30 USD
Change Today 0.00 / 0.00%
Volume 0.0
PHH On Other Exchanges
As of 8:04 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

phh corp (PHH) Snapshot

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52 Week High
06/1/15 - $27.83
52 Week Low
10/15/14 - $21.66
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phh corp (PHH) Details

PHH Corporation, through its subsidiaries, provides outsourced mortgage banking services to financial institutions and real estate brokers in the United States. The company operates through two segments, Mortgage Production and Mortgage Servicing. The Mortgage Production segment provides private-label mortgage services to financial institutions and real estate brokers; and originates and sells mortgage loans. The Mortgage Servicing segment services mortgage loans, purchases mortgage servicing rights, and acts as sub servicer for clients that own the underlying servicing rights; collects loan payments; remits principal and interest payments to investors; manages escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; and performs loss mitigation activities on behalf of investors. PHH Corporation was founded in 1946 and is based in Mount Laurel, New Jersey.

4,100 Employees
Last Reported Date: 02/27/15
Founded in 1946

phh corp (PHH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $930.3K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $620.8K
Chief Human Resources Officer and Senior Vice...
Total Annual Compensation: $661.9K
Chief Legal Officer, Senior Vice President, G...
Total Annual Compensation: $495.9K
Chief Risk & Compliance Officer and Senior Vi...
Total Annual Compensation: $348.3K
Compensation as of Fiscal Year 2014.

phh corp (PHH) Key Developments

PHH Corporation Appoints David Trone as Vice President, Investor Relations

PHH Corporation announced that David Trone has joined the company as Vice President, Investor Relations. Trone joins PHH with more than 20 years of experience in equity research covering the financial services industry, including several major companies in the mortgage finance market. Most recently, he served as Director of Research and Senior Analyst at MKM Partners, where he led the research department and covered banks and brokers, and also served on MKM's operating committee.

PHH Corp. Orders to Pay $109 Million over Allegations Illegally Accepted Kickbacks on Reinsurance Premium Payments

PHH Corp. has been ordered to pay $109 million over allegations that it illegally accepted kickbacks on reinsurance premium payments after Consumer Financial Protection Bureau Director Richard Cordray partially overruled a decision previously made by an administrative law judge. Cordray issued the decision, agreeing with an administrative law judge who found last year that PHH (and several related companies) received mortgage kickbacks in the form of reinsurance payments from insurers to which it had referred customers. The judge tied the violations to reinsurance premiums paid and to loans that closed since July 21, 2008. But Cordray's final decision expanded the scope of the allegations, saying PHH's violations occurred more often than the judge ruled and dated back to loans that closed earlier than the 2008 date. The CFPB has an internal administrative proceeding process that it can use to file a case against a company. An administrative law judge from the CFPB's Office of Administrative Adjudication then makes a recommendation to the director, who can accept or overrule it. In the PHH case, Administrative Law Judge Cameron Elliot issued a recommendation in November 2014 that found that PHH had violated RESPA by accepting kickbacks through a subsidiary company. Judge Elliot's decision, however, limited the violations to the kickbacks the subsidiary received that were tied to loans that closed after July 21, 2008. But Cordray ruled Thursday that Judge Elliot had 'misunderstood' another case that was about one-time kickback payments to a title insurer, which became the basis for his decision on PHH. PHH and related the parties involved - PHH Mortgage Corp., PHH Home Loans LLC, Atrium Insurance Corp. and Atrium Reinsurance Corp. - were the first group to appeal to the agency's administrative enforcement process. As part of his decision, Cordray denied that appeal. Instead, Cordray ordered PHH to pay $109 million, representing the amount of reinsurance premiums it received beginning July 21, 2008. The CFPB will then send the money to the Treasury Department.

PHH Corporation Announces Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Half of 2015

PHH Corporation announced consolidated financial results for the first quarter ended March 31, 2015. For the quarter ended March 31, 2015, the company reported net income from continuing operations attributable to the company of $21 million or $0.34 per diluted share. Net loss from continuing operations attributable to the company for the quarter ended March 31, 2014, was $58 million or $1.01 per diluted share. Tangible book value per share was $31.64 at March 31, 2015, up 5% from $30.21 at December 31, 2014. Net revenue was $261 million compared to $111 million a year ago. Income from continuing operations before income taxes was $31 million compared to loss of $93 million a year ago. Net income attributable to the company was $21 million or $0.34 per diluted share compared to loss of $42 million or $0.73 per diluted share a year ago. Core loss (pre-tax) was $36 million compared to $52 million a year ago. Core loss (after-tax) was $20 million compared to $34 million a year ago. Core loss per share was $0.38 compared to $0.60 a year ago. Adjusted cash inflow was $8 million compared to adjusted cash outflow of $96 million a year ago. The company anticipates reporting positive core earnings for the second half of 2015, excluding one-time items.


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PHH Competitors

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Flagstar Bancorp Inc $20.51 USD 0.00
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Valuation PHH Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.2x
Price/Book 0.8x
Price/Cash Flow 7.3x
TEV/Sales NM Not Meaningful

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