CORRECTING and REPLACING PHH Corporation to Present at Two Conferences

First graph should read: ...on Tuesday, May 11, 2010 at 3:00 p.m. PDT (6:00 p.m. EDT)... (sted ...on Tuesday, May 11, 2010 at 3:00 p.m. PDT (12 noon EDT)...) and ...on Wednesday, May 12, 2010 at 1:45 p.m. PDT (4:45 p.m. EDT)... (sted ...on Wednesday, May 12, 2010 at 1:45 p.m. PDT (10:45 a.m. EDT)...).

The corrected release reads:

PHH CORPORATION TO PRESENT AT TWO CONFERENCES

PHH Corporation (NYSE: PHH) is scheduled to present at the Ninth Annual JMP Securities Research Conference in San Francisco, California on Tuesday, May 11, 2010 at 3:00 p.m. PDT (6:00 p.m. EDT) for 25 minutes, and at the D.A. Davidson 12th Annual Financial Services Conference in Seattle, Washington on Wednesday, May 12, 2010 at 1:45 p.m. PDT (4:45 p.m. EDT) for 45 minutes.

Jerry Selitto, president and chief executive officer, and Sandra Bell, executive vice president and chief financial officer will make the presentation at JMP’s conference and Mark Danahy, executive vice president of mortgage will make the presentation at the D.A. Davidson conference. There will be live audio webcasts of both presentations.

Interested investors may access the JMP webcast at http://www.wsw.com/webcast/jmp10/phh/ and the D.A. Davidson webcast at http://www.wsw.com/webcast/dadco19/phh/ or may access both by going directly to the Company’s website at www.phh.com.

Slides that will accompany each presentation will be furnished to the Securities and Exchange Commission under Form 8-K on Tuesday, May 11, 2010, and will also be available on the PHH Investor Relations page. Audio replays will be available on the PHH website following the conference for approximately 15 days at www.phh.com.

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, 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. For additional information about the company and its subsidiaries, please visit our website at www.phh.com.

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