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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

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%