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PHH Mortgage Announces the Opening of Six New Offices as Part of Retail Expansion Strategy

Mount Laurel, NJ - February 24, 2015 - PHH Mortgage ("PHH" or the "Company"), one of the top originators of retail residential mortgages in the United States, recently announced the opening of six new retail sales centers throughout the country. Late last year offices were opened in Dallas and Houston, TX, and since January additional offices have been opened in Los Angeles, CA, Boston, MA, and Orlando, FL.

"The opening of these offices represents the company`s first steps executing against our new retail expansion strategy," said Ralph Melbourne, senior vice president of Real Estate. Melbourne added, "The establishment of a retail presence in select markets around the country operating under the PHH Mortgage name will help to diversify our revenue base, broaden our market reach and complement our existing business. We are excited about the opportunity to provide mortgage assistance to new and existing homeowners in these markets."

Three new regional managers have been hired to lead the sales efforts at the new retail centers in Texas, including Chris Karageorge, formerly VP Mortgage Lending at Guaranteed Rate, John Olson, formerly VP at Regions Financial Corporation and Caroline Edwards, formerly a Regional Sales Manager at Bank of America. In addition, existing regional managers John Wilbanks, David Martinelli and Dan Lykens have been selected to take on new responsibilities for the offices in California, Massachusetts and Florida, respectively.

PHH intends to expand its coverage in the top 25 home purchase markets through additional retail offices in 2015 and 2016, and will be recruiting loan officers to help enhance local client service. To learn more about opportunities at PHH Mortgage or to see current openings visit www.phhjobs.com/mortgage-loan-officer.htm.

About PHH Mortgage
Headquartered in Mount Laurel, New Jersey, PHH Mortgage Corporation, a subsidiary of PHH Corporation (PHH), is one of the largest originators and servicers of residential mortgages in the United States. The company originated approximately $36 billion of mortgage loans in 2014 and maintained a total loan servicing portfolio of approximately $227 billion with over 1.1 million customers as of December 31, 2014. PHH Mortgage is dedicated to responsible and ethical lending and servicing practices and offers mortgage solutions to wealth management firms, banks, credit unions, real estate companies, relocation professionals and directly to consumers. For additional information, please visit the Company`s website at www.phh.com.

Contact Information:

Dico Akseraylian

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PHH Corporation via GlobeNewswire