PHH Corp. said it is exploring its "strategic options" and has hired Credit Suisse Securities (USA) LLC and JPMorgan as financial advisors for the process, the company said in a press release on Wednesday.
"In light of changing industry and regulatory dynamics impacting our business, the board and management have decided to undertake a comprehensive review of all strategic options, including capital allocation alternatives, to maximize shareholder value," said James O. Egan, who is chairman of the Mount Laurel, N.J.-based company.
PHH posted a full-year 2015 loss of $145 million and a
Jones Day has been hired by the company as its legal advisor, while the board has hired Latham & Watkins as its legal advisor.
During its recent conference call the company announced it was ending its
On the compliance front, PHH is fighting a Consumer Financial Protection Bureau order to