Loan originations moved lower at PHH Mortgage and are likely down even more in the current quarter. The servicing portfolio was further reduced.
During the first-three months of this year, PHH suffered a $105 million loss before income taxes, worsening from $49 million one year previous.
Those details, along with other operating and financial metrics, were discussed by Mount Laurel, New Jersey-based PHH Corp. in its first-quarter 2017 earnings report.
Source: Mortgage Daily