MOUNT LAUREL, NJ-Locally-based PHH Corp. is reportedly studying the possibility of selling its mortgage and auto fleet units.
Sources tell Reuters that the company has been discussing selling its business units in two parts over the past several months. The report states that PHH has approached mortgage servicers Nationstar Mortgage Holdings Inc. and Ocwen Financial Corp. about acquiring its mortgage business, but those talks have not produced a deal as yet.
A PHH spokesman said of the sale report, "Our focus remains on continuing to successfully execute our strategic plan and delivering value for our clients and our shareholders.” See story at Reuters.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
