PHH Corp. (PHH) Tops Q2 EPS by 38c
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PHH Corporation Announces Second Quarter 2016 Results
August 8, 2016 4:15 PM EDT2Q16 Highlights:
Net loss attributable to PHH Corporation of $12 million or $0.22 per basic share, which includes $15 million of pre-tax expenses related to notable items and a $12 million pre-tax unfavorable market-related fair value adjustment to our mortgage servicing rights (MSRs), net of derivatives related to MSRs. Ended 2Q16 with $1.0 billion of Cash and cash equivalents, $679 million of MSRs, approximately $1.3 billion of Total equity and Tangible book value per share of $23.31. Mortgage applications and Total Closings totaled $12.6 billion and $10.4 billion, respectively, representing a 10% and 14% decrease from $14.0 billion... More