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PHH Corp. Layoffs

Messages relating to layoffs at PHH Corp. are presented below the company info.

PHH Corp.

Company information:

Industry/Area of Activity:
Industrial Transportation
Company Stock Ticker:
PHH
Stock traded at:
NYSE
Industry Code:
2777

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Posts regarding layoffs at PHH Corp.

Go to thread Anonymous21595, Saturday 07/19/14 19:52:41 UTC

I don't care who you are; 16 Million has gotta hurt to pay out...

"A Superior Court jury in Yuba County awarded Phillip Linza $513,902 in damages and $15.7 million in punitive damages against PHH Mortgage Corporation." http://www.news10.net/story/news/local/auburn-grass-valley/2014/07/19/mortgage-modification-fraud-housing-trial/12876749/
Reply to this post | This thread: 530 views | 4 replies
Go to thread Anonymous21153, Thursday 07/17/14 02:33:24 UTC

So no popcorn on Friday?

What will I have to shrive for then? O, I know; maybe a khaki tote bag and a white folder with my name on it stating how much severance I might get? My fingers are crossed...
Reply to this post | This thread: 35 views | No replies yet
Go to thread Anonymous21104 (BRANDS), Wednesday 07/16/14 21:15:41 UTC

To Popcorn Boy...

Enough is enough Salomon you need to sit down & just be quiet. You have ran your mouth way too much and so you know, you are NOT & I repeat NOT immune. So stop and take this as a warning just stop! There is enough stress to go around & I'm pretty sure you don't need anymore than you already have. So let the next joke be on you as a payback coming your way.
Reply to this post | This thread: 30 views | No replies yet
Go to thread Anonymous20590 (LPC ), Sunday 07/13/14 20:25:48 UTC

Rumor is...

Layoffs this week; anyone been hearing the same?
Reply to this post | This thread: 824 views | 6 replies
Go to thread Anonymous19076, Tuesday 07/08/14 04:45:09 UTC

Conference call countdown....

Is everybody ready?
Reply to this post | This thread: 656 views | 3 replies
Go to thread Anonymous17319, Thursday 07/03/14 03:26:17 UTC

New Boss?

I heard Glen Messina is selling is house in anticipation of his huge bonus from the sale of Fleet and leaving PHH before they close their doors for good. ML is on trial with Digital Risk in Florida and will not be renewing. They're also looking to have Keybank join Digital Risk as well.
Reply to this post | This thread: 774 views | 4 replies
Go to thread Anonymous16681, Tuesday 07/01/14 18:31:07 UTC

More layoffs today!!!

It looks like there will be extra popcorn to go around. Nice!
Reply to this post | This thread: 861 views | 9 replies
Go to thread Reppus! (POPCORN MAKER!), Thursday 06/26/14 15:57:53 UTC

Because they are staying in business; all but 2 clients will resign contracts after 3Q earnings call and company will be forced to stay open.

Reply to this post | This thread: 568 views | 4 replies
Go to thread Anonymous14338, Tuesday 06/24/14 18:00:01 UTC

Because they are going out of business; all but 2 clients will pull contracts after 3Q earnings call and company will be forced to close.

http://www.bizjournals.com/buffalo/news/2014/06/23/phh-has-not-yet-decided-on-new-amherst-location.html
Reply to this post | This thread: 527 views | 4 replies
Go to thread SUUUPER (Trowitagainstthewall), Friday 06/13/14 11:34:54 UTC

FREE POPPPPCOOORRRRN!

Another week, more FREE POPCORN!!!!...Please send some Popcorn out to the protester. Keep it in the family!
Reply to this post | This thread: 399 views | 3 replies
Go to thread Anonymous12183, Thursday 06/12/14 18:54:16 UTC

I hear she smells of canned meat and porridge.

Reply to this post | This thread: 131 views | 1 reply
Go to thread Anonymous12178, Thursday 06/12/14 17:46:32 UTC

Protester at PHH

There is a lady protesting PHH today at the Briggs entrance. Her sign says something like "PHH owes me money. PHH, where they treat you like family but order you to leave the building." She's been out there all day since before 8:30am.
Reply to this post | This thread: 333 views | 1 reply
Go to thread Anonymous11743, Friday 06/06/14 15:02:52 UTC

PHH NOW HIRING

Looking for 100 people for single point of contact positions
Reply to this post | This thread: 634 views | 3 replies
Go to thread Anonymous11740, Friday 06/06/14 14:36:07 UTC

Forget free popcorn we now get free puppies in bg 2!!!!!

Reply to this post | This thread: 66 views | No replies yet
Go to thread Anonymous11737, Friday 06/06/14 13:32:54 UTC

PHH Job Fair June, 2014 in Mt Laurel

Heard on the radio that PHH will be having a job fair on June 14, 2014 can anyone confirm this date? The commerical was on WURD 900. The commerical stated no experience required. Looking for people to work in Servicing etc.
Reply to this post | This thread: 237 views | 1 reply
Go to thread SUPER! (Throwitagainstwall), Thursday 06/05/14 17:26:07 UTC

One day away from FREE POPCORN! just saying

Reply to this post | This thread: 321 views | 3 replies
Go to thread Anonymous11459, Wednesday 06/04/14 15:24:43 UTC

So if the money is going to go back into the mortgage business, why were good people laid off?

http://www.streetinsider.com/Credit+Ratings/Moodys+Puts+PHH+Corp.+(PHH)+on+Watch+for+Downgrade+Following+Fleet+Deal/9552397.html "The sale of the Fleet Management business weakens the company's franchise strength and results in a more concentrated monoline business solely focused on residential mortgage banking. The mortgage business has significant reliance on the company's Realology, Merrill Lynch and Morgan Stanley relationships which account for more than 60% of origination volume. In selling the operationally and financially more stable and more profitable fleet business, PHH becomes a cyclical, low margin, lower franchise strength prime mortgage banking business. The company has indicated that it will use the sale proceeds to invest in its mortgage banking business, de-leverage its balance sheet, and return capital to shareholders. Nonetheless, it is likely that it will take several years before the company can reestablish acceptable levels of profitability. This is due in part to the low origination volumes and gain-on-sale margins that Moody's projects over the next several years. The company's mortgage business profitability has been constrained by a changing business mix in which its private label clients are electing to keep an increasing percentage of their mortgage originations. As a result, PHH is increasingly responsible for administering the mortgage origination and servicing process while its clients retain the more profitable mortgage and mortgage servicing assets. According to the company, approximately 75% of its private label mortgage contracts, or half of its mortgage originations, are currently unprofitable on a fully allocated basis."
Reply to this post | This thread: 478 views | 2 replies
Go to thread Anonymous11315, Tuesday 06/03/14 07:02:13 UTC

Can someone post info about ongoing layoffs?

I was let go earlier this year. Thank you!
Reply to this post | This thread: 563 views | 3 replies
Go to thread Anonymous10411, Wednesday 05/21/14 21:19:32 UTC

Does anyone know if more are expected throughout the company?

Reply to this post | This thread: 995 views | 8 replies
Go to thread Anonymous10401, Wednesday 05/21/14 19:58:57 UTC

How many were affected in Servicing today?

Reply to this post | This thread: 683 views | 2 replies
Go to thread Anonymous10390, Wednesday 05/21/14 18:12:07 UTC

Layoffs today in Mt Laurel Servicing

Reply to this post | This thread: 516 views | 1 reply
Go to thread Anonymous10183, Sunday 05/18/14 00:47:22 UTC

Why are posts getting deleted?

Looks like posts pertaining to certain people have been deleted; that doesn't seem too fair for an open forum.
Reply to this post | This thread: 359 views | 1 reply
Go to thread Mortgage Processor (LPC), Wednesday 05/14/14 20:01:08 UTC

What is going on with Morgan Stanley?

Does anyone know what is happening with Morgan Stanley? I have heard rumors that the processors are getting into trouble for not having the ability to maintain a pipeline of 40 jumbo loans. What is up with that? That is tooo much. They are crazy if they think they can keep MS from finding out what is happening. NO OT allowed or very limited OT. Everyone is over capacity yet the company is forcing people to work without being paid. I am glad that I was moved away from Morgan and Merrill, I like my portfolio position quite fine. Harp loans are easy peasy!!!
Reply to this post | This thread: 346 views | 2 replies
Go to thread Sup (PLS), Monday 05/12/14 20:26:31 UTC

Free popcorn, just saying

Reply to this post | This thread: 481 views | 2 replies
Go to thread Anonymous9570, Saturday 05/10/14 22:09:14 UTC

Bye Bye Merrill Lynch

Heard the Merrill Lynch contract will NOT be renewed in 2015 and ALL business will shift to Bank of America once the current contract expires; heard this from my personal FA who attended a BofA's town hall a couple weeks ago. PHH will not even exist come next summer...there's that karma again!
Reply to this post | This thread: 1106 views | 10 replies
Go to thread Anonymous9449, Friday 05/09/14 20:20:11 UTC

Buffalo Closing by 2015

Anybody heard more about this?
Reply to this post | This thread: 724 views | 4 replies
Go to thread Anonymous9376, Friday 05/09/14 11:47:31 UTC

Things that make you go, hmmmmm

http://www.bizjournals.com/buffalo/news/2014/05/07/phh-mortgage-taking-second-look-at-amherst.html
Reply to this post | This thread: 156 views | No replies yet
Go to thread HSBC Channel (UW), Friday 05/09/14 04:35:18 UTC

HSBC site leader fired in Buffalo

Heard they fired the HSBC site leader, A transitioned HSBC VP. Any reason why?
Reply to this post | This thread: 637 views | 4 replies
Go to thread Anonymous8139, Friday 04/18/14 02:17:37 UTC

These people are insane

I guess volume is picking up again. I got a call wanting to know if I was intrested in interviewing for a position. Many years of service for the company and you had zero compassion walking me out the door (Sullivan and min couldn't even get that right). I'm not the only one who got a call. I hope people think long and hard if you go back. Let them feel what they did. Btw heard UBS is a hot mess. Perhaps next time they won't get rid of all the top preformers. Karma is great.
Reply to this post | This thread: 1243 views | 7 replies
Go to thread Anonymous8107, Thursday 04/17/14 19:11:44 UTC

No class action

Please do not contact attorney below as cannot form suit.
Reply to this post | This thread: 102 views | No replies yet
Go to thread Anonymous7971, Monday 04/14/14 18:38:06 UTC

Attorney Info Class Action

Please call right away! Kevin Costello 856-727-9700
Reply to this post | This thread: 518 views | 1 reply
Go to thread Anonymous7436, Thursday 04/03/14 08:52:45 UTC

Exlpc

So does anyone have info on the lawsuit? Please post atty info I have lots of info over the past 18 years & would love to expose the illegal nonsense that I personally witnessed...thanks in advance!!
Reply to this post | This thread: 822 views | 2 replies
Go to thread Anonymous7400 (JAX), Wednesday 04/02/14 17:41:52 UTC

As PHH Turns

What is going on in the soap box today? Need updates. Anyone? Anything?
Reply to this post | This thread: 982 views | 4 replies
Go to thread Anonymous7280, Saturday 03/29/14 14:10:35 UTC

How it went down..

This is how it went down - a meeting planner was sent to those on the hit list, perhaps 100 or more at a time. All day long, there were parades of workers marching to a conference room with their dignity in tact then marching back to their desks with a gift of a "free" tote bag to pack their belongings. The person that said that things went down hill when Terry Edwards left was spot on. And the VP, Brian Teague who sent out the "hit list" of processors, including names of those on probation, sent to ALL processors in error is still with the company. Had anyone else made an error of that caliber, they would have been terminated on the spot. If my name was on the list in the color code that met that I was on probation, I would have definately sued the company for this. There have been a number of illegal acts commited by this company. Back in about 2005 or so, the company sent processors a list of loans to be "auto approved". In looking at the list, it was loans of all people who checked off on the application that they were black. I believe that this was to avoid having government auditors come in to see why so many people black persons loans were declined. The company is already in trouble with the NJ Attorney General. Upper management is clueless as to what really goes on in LPC (Loan Processing Center). I have been with the company since 1998, it was a great place to work. Things started slipping when the new management took over. These people constantly change things that are not broken. I feel terribly sorry for the processors that have to again take over loans of the processors that were let go and did not do their job. Most of the folks that were let go were good processors/counselors. The loans were left a mess as the company would just pile on more work. Sadly, at the end of the day, everyone loses. The clients, the customers and all of the remaining staff who are left to put the pieces back together again. PHH, really, I thought we are supposed to treat one another like family. If I had to fire my brother or sister, I would have found a way to do it to allow them to leave with their dignity in tact. Shame on you PHH, I do not know how the people who make these decisions sleep at night. And Brian Teague, you should resign now. I've heard that folks are organizing a class action law suit against you and the company. I'd love to see you in the unemployment line. Finally, I have thought for years that all of us should gather and file a class action law suit. Going back to the days of being told there was no overtime allowed while the work load was much too great to do everything required in a 7.5 hour day. The company was fined for having people work and not get paid for their hours which is violation of the law. I am also looking forward to hearing the load of shit that the President will feed us at the Town Hall meetings this week. I am also up for a walk out, who else is in? and people, leave Heather alone. She is a great gal and does not deserve the abuse she is getting here. I think you are all just jealous of her as she is young, beautiful and very intelligent. One more word - KARMA!
Reply to this post | This thread: 1365 views | 8 replies
Go to thread Anonymous7184 (Loan Processor), Thursday 03/27/14 23:22:21 UTC

I was not paid for all of my over time

Was anyone shorted on their OT hours for the pay that came out today?
Reply to this post | This thread: 117 views | No replies yet
Go to thread Anonymous7102, Thursday 03/27/14 02:16:10 UTC

Lack of Respect

So Ms.Manager of the site- you fire my co-workers in front of my eyes. You avoid eye contact when tough questions are asked and now you want us to reposnd to you. You want us to work to the bone for what, to save your job and make you look good? Do us all a favor- dye your hair one color and sit down. No one here respects you after you did what you did. Your higher then though attitude will fall when they walk you out. That day may be sooner then you think- and why? Cause your site wont rally around you and perform because you say so. Support them and give them what they need to succed and maybe you too will be saved.
Reply to this post | This thread: 823 views | 3 replies
Go to thread Anonymous7101, Thursday 03/27/14 02:11:29 UTC

Hey LP's, Burned out yet?!

Make your communications by end of day- but make sure you're auxed in. Update these loans with templates before end of day. Send an email with the status of your pipeline before you leave. Please see Reg B report and complete by 5. GFE's need to go out- 130 emails, 32 voicemails and 37.5 hours to complete it in. How many of us will drop before PHH is fully submerged in the sinking whole they created for themselves.
Reply to this post | This thread: 110 views | No replies yet
Go to thread Anonymous6912, Monday 03/24/14 15:16:28 UTC

Lies

Lies, under qualified managers, non-productive or caring employees kept? Lower performance employees moved, decisions based on like? When this was happening, did the Senior Management team get information they needed and then cut the people with the information? Many fake smiles! Scam, poor training, lack of respect, the place is a JOKE. Worst company to work for in any State. Who has the Lawyer contact? Just post it here, they will receive the responses necessary to show power in numbers and have so many examples. What will PHH do? Pay a settlement; I think so, they have done it before and then explained not guilty? Who pays and go with not guilty? JOKE Passed compensation Exam and production required, not compensated, pay not increased, lied too instead: Sounds like a lawsuit. Others same boat?
Reply to this post | This thread: 515 views | 1 reply
Go to thread Anonymous6905, Monday 03/24/14 11:09:24 UTC

Is that confirmed?

Is below true? Who are your sources?
Reply to this post | This thread: 109 views | No replies yet
Go to thread Anonymous6895, Monday 03/24/14 01:36:47 UTC

Can't wait for tomorrow

I hear several closed door meetings this week. April will be horrific sources are saying.
Reply to this post | This thread: 420 views | 1 reply

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