- American City Business Journals•5 days ago
Faced with losing almost a third of its mortgage subservicing portfolio, PHH Corp. said it would cut 91 of 294 employees in its Buffalo, New York facility by the end of the year, according to a WARN notice filed in New York state. The Mount Laurel, New Jersey-based company also told Buffalo Business First that it was “evaluating (its) long-term need” to maintain a presence in western New York. The cuts stem from HSBC last month announcing that it has agreed to sell 139,000 mortgage loans currently serviced by PHH (PHH) to a buyer that does not intend to retain PHH as subservicer.
- American City Business Journals•6 days ago
PHH Corp. will cut one-third of its local workforce at the end of the year and more cuts are likely in 2017. The mortgage service provider – which currently employs 294 people in Amherst – is also “evaluating (its) long-term need” to maintain a local presence, company spokesperson Dico Akseraylian said. With layoffs on the horizon, PHH said it does not plan to stay at 1760 Wehrle Drive, the $34 million office complex the company has occupied since last year.
- Reuters•10 days ago
The U.S. watchdog for consumer finance scored a major victory last week when it was part of the government group that forced Wells Fargo & Co (WFC.N) into a $190 million settlement of fraud charges, but the Consumer Financial Protection Bureau still faces an ugly fight to justify its own existence. The CFPB could lose its first battle as early as Friday, the earliest that a U.S. District Court could rule on whether the CFPB's single-director structure is unconstitutional. The lawsuit, brought by mortgage servicer PHH Corporation over a fine for allegedly taking kickbacks for referring customers to an insurance company, is the most serious legal test the agency has faced.
PHH Corporation (PHH)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||14.33 x 400|
|Ask||14.34 x 1300|
|Day's Range||14.21 - 14.49|
|52wk Range||8.26 - 18.68|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||-5.54|
|Avg Vol (3m)||472,076|
|Dividend & Yield||N/A (N/A)|