David Trone Named Vice President of Investor Relations

Mount Laurel, NJ - July 8, 2015 - PHH Corporation PHH ("PHH" or the "Company") announced today that David Trone has joined the Company as Vice President, Investor Relations.

Trone joins PHH with more than 20 years of experience in equity research covering the financial services industry, including several major companies in the mortgage finance market. Most recently, he served as Director of Research and Senior Analyst at MKM Partners, where he led the research department and covered banks and brokers, and also served on MKM's operating committee. Prior to that, Trone served as Managing Director, Head of Banks and Brokers Research, at JMP Securities, covering banks and capital markets companies. Prior roles include Managing Director, Head of Banks and Brokers Research, at Fox-Pitt Kelton, Senior Vice President, Equity Research Analyst, at Prudential Securities, and Vice President, Equity Research Analyst, at Credit Suisse First Boston.

"David's extensive financial market experience and deep understanding of the investment community will make him an invaluable member of our team and we are pleased to have him on board," said Robert Crowl, Chief Financial Officer of PHH Corporation. "We look forward to working with David as he ensures our business strategy and results continue to be communicated with clarity and consistency among shareholders and analysts."

Trone earned both a Bachelor of Science degree in Computer Science and an MBA in Finance from University of Maryland.

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.

Contact Information:

Investors
David Trone
david.trone@phh.com
(856) 917-6503

Media
Dico Akseraylian
dico.akseraylian@phh.com
(856) 917-0066