|Bid||9.397 x 50000|
|Ask||9.559 x 50000|
|Day's Range||9.372 - 9.372|
|52 Week Range||9.205 - 14.503|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Mortgage lender PHH Corp. said it lost $55 million in the third quarter and $168 million so far this year. Results from the most recent quarter were affected by several one-time costs, including losing $16 million on the sale of mortgage servicing rights, $34 million for early debt retirement and a $2 million provision for legal and regulatory matters. The Mount Laurel, N.J.-based company agreed in August to pay $74.5 million to settle claims from the U.S. Department of Justice that it produced defective loans that the federal government insured and Fannie Mae and Freddie Mac bought.
The Mount Laurel, New Jersey-based company said it had a loss of $1.14 per share. Losses, adjusted for non-recurring costs, were $1.10 per share. The mortgage and fleet management company posted revenue ...
The change comes ahead of the bank's third-party provider, PHH Corp, exiting the origination business next year, and as Morgan Stanley makes a bigger push into mortgages. Although it will soon begin handling the early stages of mortgage lending, Morgan Stanley will continue to use PHH for other functions like mortgage servicing, said the sources, who were not authorized to speak to the press. Representatives for Morgan Stanley and PHH declined to comment.
Mortgage company PHH Corp will pay nearly $74.5 million to resolve claims it generated defective loans that the federal government then insured and Fannie Mae and Freddie Mac bought, The U.S. Justice Department said on Tuesday. The deal with Mount Laurel, New Jersey-based PHH follows settlements between the Justice Department and financial companies over shoddy mortgage loans in recent years in the wake of the 2007-2009 financial crisis. "This significant resolution helps rectify the misconduct by returning more than $74 million in wrongfully claimed funds to the government," Gregory Brooker, the acting U.S. attorney in Minnesota, said in a statement.
Federal prosecutors in Minnesota say PHH Corp. and two subsidiaries have agreed to pay over $74 million to settle allegations they violated standards for underwriting government-backed mortgages. Acting ...
Consumer Reports has no relationship with any advertisers on this website. A federal appeals court heard arguments Wednesday that could help determine the fate of the embattled Consumer Financial...
A divided U.S. appeals court on Wednesday appeared to tilt slightly in favor of the Consumer Financial Protection Bureau's arguments that its structure does not violate the Constitution, in one of two cases that could weigh on the policing of Wall Street. A crowded courtroom at the U.S. Court of Appeals for the District of Columbia Circuit heard a number of judges on the 11 member panel vigorously question Theodore Olson, an attorney whose mortgage company client PHH Corporation (PHH.N) brought the case against the regulator after the CFPB sued the company on allegations it was involved in an illegal kickback scheme. The harshest questioning came from Democratically-appointed judges, though Republican-appointed Judge Thomas Griffith also at times raised concerns on whether Olson's arguments run counter to Supreme Court precedent.
The Mt. Laurel, New Jersey-based company said it had a loss of $1.25 per share. Losses, adjusted for non-recurring costs, were $1.24 per share. The mortgage and fleet management company posted revenue ...
Ocwen Financial Corp is digging in for a legal battle with the U.S. consumer financial watchdog over allegations its mortgage servicing harmed thousands of borrowers, and has asked the Justice Department to join its fight. Ocwen, one of the United States' largest nonbank mortgage servicers, filed a challenge to the Consumer Financial Protection Bureau in the U.S. District Court in West Palm Beach on Tuesday saying the agency was not legal under the U.S. constitution. The move came after the CFPB brought a lawsuit against Ocwen last week, accusing the company of widespread misconduct in how it serviced borrowers' loans, from foreclosure abuses to a basic failure to send accurate monthly statements.
PHH Corporation (PHH) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front
The Consumer Financial Protection Bureau and embattled director Richard Cordray won a second chance to defend his independence from the political pressure of being fired at any time for any, or no, reason ...
The Mt. Laurel, New Jersey-based company said it had a loss of $2.49 per share. Losses, adjusted for non-recurring costs, were $1.86 per share. The mortgage and fleet management company posted revenue ...