Volume 2014 - Number 13
April 3, 2014
At Least Three Potential Buyers Look at PHH Mortgage, But a Deal Is Far From Certain
PHH Mortgage has been on the auction block for well over two months now and at least three nonbank buyers have looked at the firm, according to industry advisors close to the company. However, it remains to be seen whether a deal can get done during a year in which residential production could plunge by 30 percent or more. Industry advisors have identified as possible buyers Carrington Mortgage and Ocwen Financial. Both are growth-oriented nonbanks that have been selective buyers of servicing rights and production assets the past few years. At least one other potential buyer has been mentioned...
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