PHH Corporation Comments on Opinion Issued by D.C. Circuit Court of Appeals
2016年10月12日 - 5:33AM
ビジネスワイヤ(英語)
PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today
issued the following statement in response to the opinion released
on October 11, 2016 by the U.S. Court of Appeals for the D.C.
Circuit in which the Court vacated the decision of the Director of
the Consumer Financial Protection Bureau (the “CFPB”) ordering the
Company to disgorge $109 million in reinsurance premiums:
“We are extremely gratified that the D.C. Circuit Court of
Appeals overturned the Director’s decision related to our former
mortgage reinsurance activities. We are hopeful that the Court’s
opinion will provide greater certainty to the entire mortgage
industry regarding the industry’s reliance on long-standing
regulation as to how to conduct business consistent with RESPA.
Regarding the Court’s decision to remand the case to the CFPB to
determine whether any mortgage insurers paid more than reasonable
market value to the PHH-affiliated reinsurer, we will continue to
present the facts and evidence to demonstrate that we complied with
RESPA and other laws applicable to our former mortgage reinsurance
activities in all respects.”
About PHH Corporation
Headquartered in Mount Laurel, New Jersey, PHH Corporation is a
leading provider of end-to-end mortgage solutions through its
subsidiary, PHH Mortgage. Its outsourcing model and proven
expertise, combined with a strong commitment to operational
excellence and customer service, has enabled PHH Mortgage to become
one of the largest non-bank originators and servicers of
residential mortgages in the United States. PHH Mortgage provides
mortgage solutions for the real estate market and financial
institutions, and offers home financing directly to consumers. For
additional information, please visit www.phh.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Generally, forward looking-statements are not
based on historical facts but instead represent only our current
beliefs regarding future events. All forward-looking statements
are, by their nature, subject to risks, uncertainties and other
factors that could cause actual results, performance or
achievements to differ materially from those expressed or implied
in such forward-looking statements. Investors are cautioned not to
place undue reliance on these forward-looking statements. Such
statements may be identified by words such as “expects,”
“anticipates,” “intends,” “projects,” “estimates,” “plans,” “may
increase,” “may fluctuate” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could.”
You should understand that forward-looking statements are not
guarantees of performance or results and are preliminary in nature.
You should consider the areas of risk described under the heading
“Cautionary Note Regarding Forward-Looking Statements” and “Risk
Factors” in our periodic reports filed with the U.S. Securities and
Exchange Commission, including our most recent Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q, in connection with
any forward-looking statements that may be made by us or our
businesses generally. Such periodic reports are available in the
“Investors” section of our website at http://www.phh.com and are
also available at http://www.sec.gov. Except for our ongoing
obligations to disclose material information under the federal
securities laws, applicable stock exchange listing standards and
unless otherwise required by law, we undertake no obligation to
release publicly any updates or revisions to any forward-looking
statements or to report the occurrence or non-occurrence of
anticipated or unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20161011006689/en/
PHH CorporationInvestorsHugo Arias,
856-917-0108hugo.arias@phh.comorMediaDico Akseraylian,
856-917-0066dico.akseraylian@phh.com
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