The mood is aweful. The whole industry is hurting. What are your thoughts on closing and bankruptcy, is that something that we here at PHH can realistically expect in 2018?
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So I hear that the head of underwriting has been shown the door and all of underwriting and processing reports to the same person. Not sure why the higher ups don't get why this is a problem. Don't they understand what a conflict of interest this is? Pretty sure they figure get as many loans closed as fast as possible and then close the doors before the repurchase demands start rolling in
Very likely, PHH will be not be around too much longer. I would say no longer than a year. PHH is run by a horrible management team.