Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

PHH 1Q profit doubles on spike in refinancing activity



By AP
09 May 2008 @ 11:20 am ET

MT. LAUREL, N.J. - PHH Corp.'s first-quarter earnings doubled as refinancing activity boosted revenue, the mortgage originator and fleet management company said Friday.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
PHH 17.9 0.61

Net income soared to $30 million, or 55 cents per share, from $15 million, or 27 cents per share, in the year-ago period.

Revenue rose 8 percent to $642 million from $596 million last year. Mortgage closings rose 6 percent to $10 billion, as refinancings spiked 41 percent. Fleet management revenue fell slightly to $448 million.

PHH shares added 8 cents to $19.21 in morning trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
China said on Saturday its policy toward foreign acquisitions of domestic firms was fair, explaining that broader national concerns take precedence over ...
China's ambitious plan to increase wind power capacity could attract up to $150 billion in investment, but Beijing will have to get serious about revampi...
Top oil and gas firm PetroChina raised daily output at its largest Sulige gasfield, in northern China's Ordos Basin, to 25.6 million cubic metres, up 67 ...

Advertisement
Option Trading Was Never So Easy

Come and experience the trading platform that everyone talks about. Simple, fast and exciting.

Press Release Distribution - IBwire

Effective and Affordable Press Release Distribution Service

70% Profit in Less Than an Hour

Take profit from the markets roller coaster. No downloads, no commissions, no spreads.

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives