PHH loses $46M as its shift to subservicing is nearly complete

PHH announces layoffs due to HSBC mortgage servicing. – Cuts one-third of its local workforce in Amherst, New York. PHH plans to eliminate 91 jobs on Dec. 31 or within 14 days of the new year. The article added that the cuts stem from a reduction in certain mortgage servicing business for HSBC and a shift in origination work from Amherst to Florida. At the end of August,

PHH CORP – 10-K – Management’s Discussion and Analysis of Financial Condition and Results of Operations – Our Management’s Discussion and Analysis of Financial Condition and Results of Operations is presented. to noncontrolling interest 59 25 28 net income (loss) attributable to PHH Corporation $ 34 $.

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These losses, coupled with the complete loss of servicing from Merrill Lynch, is yet another hit on PHH’s weakening dam. BofA says it’s simply taking the mortgages in-house. Here’s the whole story.

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Housing starts decline to two-year low in December By Lucia Mutikani. WASHINGTON (Reuters) – U.S. homebuilding tumbled to a more than two-year low in December as construction of both single and multi-family housing declined, the latest indication that the economy lost momentum in the fourth quarter.Median home affordability an issue in nearly 70% of markets Disowned For Being A Millionaire: Why I Still Won’t Buy A. – The following is a guest post by Kristy from millennial revolution. kristy and her husband have been all over the Canadian news recently for denouncing homeownership. They considered buying a Toronto property in their late 20s when they realized they couldn’t get anything nice for ~$500,000.

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