Cases & Deals

PHH Corporation sells remaining MSR portfolio for $912 million and enters subservicing agreement for 480,000 mortgage loans with New Residential Investment Corp.

Clients PHH Corporation

Jones Day advised PHH Corporation in its $912 million sale of all of its remaining MSR portfolio and related servicing advances to New Residential Investment Corp. PHH also entered into a subservicing agreement with New Residential, pursuant to which PHH will subservice the 480,000 mortgage loans underlying the MSRs acquired by New Residential.