PHH Mortgage Corporation -- Moody's affirms PHH Mortgage Corporation as 'Above Average' Originator Of Prime, Jumbo Residential Mortgage Loans

New York, December 28, 2012 -- Moody's overall 'Above Average' assessment of PHH Mortgage Corporation (PHH) is based on a review of a number of factors, among them: the loan performance of all of the loans PHH originated between 1 January 2009 and 15 May 2012; PHH's originator ability, including its underwriting guidelines; its ability to accurately and objectively assess property value; and its ability to close loans in accordance with laws and regulations. Moody's review also took into account PHH's financial strength and support functions to determine its originator stability.

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