Articles Tagged with ''PHH Corp.''

Fitch Affirms PHH Ratings on Positive Mortgage Operations

Fitch Ratings affirmed ratings of PHH Corporation [stock PHH][/stock], reflecting the mortgage operations’ improved financial flexibility. In addition to mortgage operations, PHH also runs a vehicle management business segment. Fitch kept the long-term Issuer Default Rating (IDR) at double-B-positive and the short-term IDR at B, according to a corporate release. Fitch pointed to the recent improvement of the ABS markets for the commercial fleet asset class, as well as rational pricing and higher mortgage volume as positive trends toward profitability.
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PHH Posts Q1 Profit, Sees Mortgage Production Losses Narrow

PHH Corp. [stock PHH][/stock] said Friday that losses in its mortgage production business narrowed during the first quarter to $8 million, compared to a $39 million loss one year earlier -- a smidgen of good news for a battered industry. Unfortunately, the company's servicing operations swung strongly into the red, posting a $16 million loss for the quarter relative to a $55 million net gain one year ago.
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