PHH Corporation Completes Sale of Certain Assets of PHH Home Loans Joint Venture
PHH (PHH)
Last phh earnings: 5/8 04:15 pm
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Source: Business Wire
MOUNT LAUREL, N.J.--(BUSINESS WIRE)-- PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today announced that it has completed the previously announced sale of certain assets of PHH Home Loans, LLC (“PHH Home Loans”) to Guaranteed Rate Affinity, LLC (“GRA”), a new joint venture established by Guaranteed Rate, Inc. (“Guaranteed Rate”) and Realogy Holdings Corp. (“Realogy”). Robert B. Crowl, President and CEO of PHH Corporation, said, “The completion of the sale of certain assets of our PHH Home Loans joint venture is an important step in our efforts to re-engineer the organization focused solely on subservicing and portfolio retention services. I would like to thank the teams from PHH, GRA and Realogy for their efforts on successfully completing this complex transaction and our former employees who have transitioned to GRA for their dedicated service and valued contributions to PHH.” Since annou
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