PHH Corp. (PHH) Misses Q1 EPS by 56c
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PHH Corporation Announces First Quarter 2017 Results
May 9, 2017 4:15 PM EDT1Q17 Highlights:
Net loss attributable to PHH Corporation of $67 million or $1.26 per basic share, which includes $34 million of pre-tax expenses related to notable items, a $2 million pre-tax unfavorable market-related fair value adjustment to our mortgage servicing rights (MSRs), net of derivatives related to MSRs and $25 million of pre-tax expenses related to Exit and disposal costs. Our Board of Directors has authorized up to $100 million in open market share repurchases as an initial action in returning capital to shareholders. We intend to commence repurchases pursuant to this authority effective at the next... More