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PHH to Miss Another Deadline

Stock quotes in this article: PHH , CD  

Mortgage banking firm PHH(PHH Quote) needs more time to get its financial affairs in order.

The firm, which was spun off last year by Cendant(CD Quote), says it will miss the June 30 filing deadline for submitting financial statements for the second quarter. PHH previously missed the deadline for filing first-quarter financials and still hasn't filed its 2005 annual report.

The company says it's still reviewing "significant accounting adjustments" that were made in conjunction with the February 2005 spinoff. PHH says the delay in filing its financial statements has led it to obtain a number of waivers from its lenders. ...

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