PHH Corp. (PHH) Misses Q4 EPS by 8c
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PHH Corporation Announces Fourth Quarter 2015 Results
February 24, 2016 4:51 PM EST4Q15 Highlights:
Net loss attributable to PHH Corporation of $54 million or $0.92 per basic share, which includes $25 million of pre-tax notable items and a $52 million pre-tax unfavorable market-related fair value adjustment to our mortgage servicing rights (MSRs), net of derivatives related to MSRs, resulting from changes in interest rates and assumptions used in our valuation model. Completed our private label contract amendments and substantially all of our re-engineering cost reduction actions. We expect the remaining benefits of our private label contract amendments to be realized in 2Q16, and... More