PHH Posts a Profit, Revises Fannie Mae Funding Facility

PHH Corp. posted net earnings of $75 million for the first quarter, turning a profit on its residential mortgage operation, but suffering charges on its servicing business. In 1Q11, the company earned $49 million.

Article source: http://www.nationalmortgagenews.com/dailybriefing/phh-earnings-fannie-mae-funding-facility-1030197-1.html

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