PHH Corporation

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The PHH Corporation (NYSE: PHH) is an American corporation founded in 1946 that focuses on home mortgages and fleet management. Based in Mount Laurel Township, New Jersey, this billion-dollar corporation, including subsidiaries, employs over 5,000 individuals. In 2007, PHH was engaged in buy-out talks with the Blackstone Group financed by JP Morgan. Following the collapse of these talks, due to the continuing credit crisis, PHH was paid $50 million by Blackstone as part of the deal.