PHH Corporation Announces First Quarter 2016 Results

1Q16 Highlights: Net loss attributable to PHH Corporation of $30 million or $0.56 per basic share, which includes $18 million of pre-tax notable items and a $10 million pre-tax unfavorable market-related fair value adjustment to our mortgage servicing rights (MSRs), net of derivatives related to MSRs. Ended 1Q16 with $937 million of Cash and cash equivalents, $770 million of MSRs, $1.3 billion of Total PHH Corporation equity and Tangible book value per share of $23.66. Mortgage applications and Total Closings totaled $12.3 billion and $8.0 billion, respect......(read more)

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