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July 8, 2014

PHH Will Invest $350 Million in Mortgage Unit, but Outsourcing and Layoffs Ahead

By Paul Muolo

Will PHH sell its mortgage division this year? Don't bet on it. But it will spend millions on a company restructuring.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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