PHH Corporation Comments on Opinion Issued by D.C. Circuit Court of Appeals

MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Oct. 11, 2016-- PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today issued the following statement in response to the opinion released on October 11, 2016 by the U.S. Court of Appeals for the D.C. Circuit in which the Court vacated the decision of the Director of the Consumer Financial Protection Bureau (the "CFPB") ordering the Company to disgorge $109 million in reinsurance premiums: "We are extremely gratified that the D.C. Circuit Court of Appeals overturned the Director's decision related to our former mortgage reinsurance activities. We are......(read more)

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