Hurried Spinoff Leaves PHH Mortgage in an Accounting Pinch, Saxon Delays Its Results
March 17, 2006
PHH Mortgage’s lighting fast spinoff from Cendant early last year has left the lender with a dizzying array of accounting headaches, which have caused the firm to delay filing its first year-end financial report as a standalone company. The firm’s 10-K filing with the Securities and Exchange Commission was due March 16. …