This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

PHH Corporation Announces Fourth Quarter And Full-Year 2013 Results

Stock quotes in this article: PHH

PHH Corporation (NYSE: PHH):

4Q13 Net Income Attributable to PHH Corporation of $45 million or $0.78 per basic share Full-Year 2013 Net Income Attributable to PHH Corporation of $135 million or $2.36 per basic share

4Q13 Core Earnings (after-tax)* of $16 million and Core Earnings per Share* of $0.28 Full-Year 2013 Core Loss (after-tax)* of $19 million and Core Loss per Share* of $0.32

Company Exploring Ways to Maximize Shareholder Value Through the Separation or Sale of Fleet Business, Mortgage Business, or Both

  • Full-year total retail mortgage loan closings of $47.4 billion, up 4% from 2012. Full-year total mortgage loan closings of $52.4 billion, down 6% from 2012
  • Total loan servicing portfolio at December 31, 2013, of $226.8 billion, up 23% from $183.7 billion at the end of 2012
  • Mortgage applications declined 18% sequentially in the fourth quarter to $10.4 billion; interest rate lock commitments (IRLCs) expected to close declined 27% sequentially to $2.1 billion. Fee-based closings constituted 61% of total closings in 4Q13, up from 58% in 3Q13 and 41% in 4Q12
  • Total loan margin of 313 bps in 4Q13, a 2 bps decrease from 3Q13 and a 93 bps decrease from 4Q12
  • 2013 Fleet segment profit of $88 million, up from $87 million in 2012

PHH Corporation (NYSE: PHH) (“PHH” or the “Company”) today announced financial results for the quarter and year ended December 31, 2013.

For the quarter ended December 31, 2013, the Company reported net income attributable to PHH Corporation of $45 million or $0.78 per basic share. For the year ended December 31, 2013, the Company reported net income attributable to PHH Corporation of $135 million or $2.36 per basic share.

1 of 14

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs