Last $24.20 USD
Change Today -0.21 / -0.86%
Volume 403.0K
PHH On Other Exchanges
New York
As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

phh corp (PHH) Snapshot

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03/6/14 - $27.13
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08/2/13 - $20.58
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phh corp (PHH) Details

PHH Corporation provides outsourced mortgage and fleet management services in the United States and Canada. The company operates through three segments: Mortgage Production, Mortgage Servicing, and Fleet Management Services. The Mortgage Production segment provides private-label mortgage services to financial institutions and real estate brokers; and originates, purchases, and sells mortgage loans. The Mortgage Servicing segment services mortgage loans, purchases mortgage servicing rights, and acts as sub servicer for clients that own the underlying servicing rights; collects loan payments; remits principal and interest payments to investors; manages escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; and performs loss mitigation activities on behalf of investors. This segment also offers reinsurance services. The Fleet Management Services segment provides fleet management services, including vehicle leasing, fleet policy analysis and recommendations, benchmarking, vehicle recommendations, ordering and purchasing vehicles, and arranging for vehicle delivery and administration of the title and registration process, as well as tax and insurance requirements, pursuing warranty claims, and remarketing used vehicles. This segment also offers vehicle maintenance service cards to facilitate payment for repairs and maintenance; accident management services; driver safety training services, including classroom and behind the wheel training for small groups or individual drivers taught by professional driving instructors; and fuel card programs that facilitate the payment, monitoring, and control of fuel purchases to corporate clients and government agencies. PHH Corporation was founded in 1946 and is based in Mount Laurel, New Jersey.

6,000 Employees
Last Reported Date: 02/26/14
Founded in 1946

phh corp (PHH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $857.2K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $446.5K
Senior Vice President, General Counsel, Corpo...
Total Annual Compensation: $360.4K
Executive Vice President of Mortgage
Total Annual Compensation: $580.0K
Compensation as of Fiscal Year 2013.

phh corp (PHH) Key Developments

Phh Corporation Announces Executive Changes

Effective as of July 21, 2014, Glen A. Messina assumed the consolidated roles of President and Chief Executive Officer of PHH Corporation. David E. Tucker, who previously served as President and Chief Executive Officer at PHH Mortgage and Executive Vice President, Mortgage at the company, will remain employed in the position of Executive Vice President of PHH Mortgage through the end of January 2015.

PHH Eyes Acquisitions

PHH Corporation (NYSE:PHH) intends to make acquisitions. Glen Messina, President and Chief Executive Officer of the company said: “We are focused on disciplined expansion in the top 25 home purchase markets in 2015 and 2016, starting with the Houston and Dallas markets in the third quarter. We also targeting expansion into lower density home purchase markets by leveraging our call center fulfillment capability focused directly on the real estate agent. Finally, we will be actively seeking select focused acquisition opportunities where we can leverage our existing support infrastructure to expand our retail purchase market presence. I will speak more about this in a moment. We have earmarked up to $150 million for these organic and inorganic growth opportunities that we intend to pursue immediately. We believe these growth opportunities could potentially generate up to $175 million in fully realized annual operating benefits, and we expect to fund these investments over the next 12 to 24 months.” He added: “Any acquisition must generate financial returns that meet or exceed our hurdle rates of return on capital. We will focus on purchase market opportunities in mortgage production to expand both our local retail footprint in select markets and our direct to consumer reach. We believe such direct retail strategic acquisitions can deliver critical scale, further diversify our revenue streams and offset customer concentration risk in our production channels. We believe a strong strategic and cultural fit are critical elements to ensure a smooth and swift integration, maximize employee retention, ensure the long-term success of any acquisition and protect our brand and reputation. We will seek consolidating acquisitions that will provide operating leverage for our support infrastructure to increase the return potential of these opportunities. Also of interest would be an acquisition that includes a technology advantage model that would complement our existing platform. Production businesses often include a servicing asset that could provide scale for our servicing business as well. In addition, we may acquire or assume servicing or subservicing.”

PHH Corporation - Special Call

To discuss the sale of its Fleet Management Services business, doing business as PHH Arval, to Element Financial Corporation; and to discuss the deployment of excess capital and its mortgage strategy


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PHH Competitors

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Company Last Change
Flagstar Bancorp Inc $19.24 USD -0.01
Home Loan Servicing Solutions Ltd $22.33 USD -0.36
Nationstar Mortgage Holdings Inc $32.09 USD -0.77
Ocwen Financial Corp $35.85 USD +0.09
Walter Investment Management Corp $29.42 USD +0.23
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Industry Average

Valuation PHH Industry Range
Price/Earnings 38.0x
Price/Sales 0.5x
Price/Book 0.9x
Price/Cash Flow 1.1x
TEV/Sales NM Not Meaningful

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