As the parent of PHH Mortgage continues to execute on its strategy to shrink its mortgage business, losses grew from a year earlier as originations and servicing were slashed.
Mount Laurel, New Jersey-based PHH Corp. reported in its second-quarter earnings results an $83 million loss before income taxes during the three months ended mid-2017.
Losses widened from $20 million during the same three months last year. But an improvement was noted from the $105 million loss in the preceding three-month period.
Source: Mortgage Daily