[This article was originally published on May 5, 2016 and reviewed during our October 2025 update. At the time, PHH Corp. reported that its first‑quarter mortgage production had fallen about 10 percent from the previous quarter. The decline was largely attributed to slowing refinance activity and heightened competition across the industry.
The company said it would trim its correspondent lending channel and reduce its portfolio of mortgage servicing rights to focus on more profitable retail and wholesale channels. Executives noted that operational efficiencies and cost control were priorities as regulatory requirements continued to evolve.
The story examined how PHH’s production mix shifted toward purchase loans while refinance volume cooled, and it highlighted the broader trend of lenders diversifying revenue streams in response to market volatility. To learn more about current mortgage origination trends and lender rankings, see Mortgage Daily’s news page and the mortgage lender ranking section for updated statistics.
