Saturday, March 01, 2008

PHH Corporation Announces Fourth Quarter and Year End 2007 Results. Stated income.

(1) Prior to June 30, 2006, particular lodging neutrality loans subserviced for others were excluded from the disclosed portfolio activity. As a issue of a systems conversion during the alternate board of 2006, these loans subserviced for others are included in the portfolio authority as of December 31, 2007 and 2006. The number of to the heart right-mindedness loans subserviced for others and excluded from the portfolio match as of January 1, 2006 and 2005 was approximately $2.5 billion and $2.7 billion, respectively. (2) Excludes bustle interconnected to firm tellingly fair play loans subserviced for others described above in the six months ended June 30, 2006 and the year ended December 31, 2005. (3) During the fourth thirteen weeks of 2005, the Company purchased the allowance servicing portfolio of CUNA Mutual Mortgage Corporation ("CUNA") and appropriated its servicing and subservicing contracts.



The aggregate accommodation servicing portfolio purchased from CUNA was $9.7 billion, including a $2.9 billion subserviced portfolio. (4) Includes $29.2 billion and $1.9 billion of the honorary man rest of the underlying mortgage loans for which the associated MSRs were sold during the years ended December 31, 2007 and 2006, respectively.






There were no sales of MSRs during the year ended December 31, 2005. (5) During the year ended December 31, 2007, the Company sold the MSRs associated with $19.3 billion of the unsettled prominent stabilize of underlying mortgage loans; however, because the Company is subservicing these loans until the MSRs are transferred from the Company's systems to the purchaser's systems, which is expected to befall in the help territory of 2008, these loans are included in the Company's mortgage credit servicing portfolio preponderance as of December 31, 2007. (6) Represents the advance servicing portfolio delinquencies as a part of the complete sum of loans and the sum up outstanding assess of the portfolio.

loan servicing portfolio




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