Quarterly losses at the parent of PHH Mortgage soared past $200 million as home-lending volume fell. The company is transitioning into a smaller business.

Before income taxes, parent-PHH Corp. experienced a $206 million loss from the period that started on Oct. 1, 2016, and concluded on Dec. 31, 2016.

The Mount Laurel, New Jersey-based firm presented the numbers, in addition to other operational and financial results, in its fourth-quarter 2016 earnings report.

Source: Mortgage Daily