Profile: PHH Corp (PHH.N)
21 Apr 2017
PHH Corporation, incorporated on December 9, 1953, is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its wholly owned subsidiary, PHH Mortgage Corporation and its subsidiaries (collectively, PHH Mortgage). The Company operates through two segments: Mortgage Production and Mortgage Servicing. The Mortgage Production segment provides mortgage loan origination services and sells mortgage loans. The Mortgage Servicing segment performs servicing activities for loans originated by the Company and mortgage servicing rights purchased from others, and acts as a subservicer for certain clients that own the underlying mortgage servicing rights.
The Company's Mortgage Production segment provides private label mortgage services to financial institutions and real estate brokers, and sources mortgage loans through its retail platform. Within its Real Estate channel, the Company provides mortgage origination services for brokers associated with brokerages owned or franchised by Realogy Corporation (Realogy) and other third-party brokers. The Company's Mortgage Servicing segment services mortgage loans originated by PHH Mortgage where it retains the mortgage servicing rights (MSRs) and acts as a subservicer for certain clients that own the underlying servicing rights. The Company services loans on behalf of the investors or owners of the underlying mortgage. Its servicing consists of collecting loan payments; remitting principal and interest payments to investors; managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; performing loss mitigation activities on behalf of investors, and otherwise administering its mortgage loan servicing portfolio.
3000 Leadenhall Rd
MOUNT LAUREL NJ 08054-4606