PHH Corporation Names Jonathan T. McGrain Senior Vice President of Corporate Communications

PHH Corporation (NYSE: PHH) announced today that effective January 25, 2010, Jonathan T. McGrain has been named Senior Vice President of Corporate Communications. In his role, McGrain will assume responsibility for all internal and external communications, media and investor relations; company branding, and marketing and communication strategies. McGrain will report to Jerry Selitto, President and CEO of PHH Corporation.

McGrain brings to PHH Corporation more than 20 years of marketing and communications experience. Most recently, he served as a consultant to financial services clients in Asia and the United States, where he developed the brand identity of the first private mortgage insurance company to be launched since the start of the financial crisis. He previously held senior management roles with VinaCapital Investment Management Ltd., Clayton Holdings, Inc. and Radian Group Inc.

Jerry Selitto, President and CEO of PHH Corporation said, “Jon’s expertise and experience in marketing and communications and the financial services industry brings incredible opportunity for PHH to be identified and recognized as the leader it is in the business arena. His past success in brand positioning will help move our company forward in ways that will improve customer experience and enhance our bottom line.”

McGrain said, “I’m excited to be joining the best team in the mortgage and fleet management businesses. PHH is an outstanding company, with excellent growth opportunities. I’m pleased to be working with Jerry Selitto again and I look forward to building and managing a brand that will contribute to the future success of PHH.”

About PHH Corporation

Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary, PHH Mortgage Corporation, is one of the top five retail originators of residential mortgages in the United States1, and its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada.

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