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PHH Corporation sells remaining MSR portfolio for $912 million and enters subservicing agreement for 480,000 mortgage loans with New Residential Investment Corp.

July 2017

Client(s) PHH Corporation

Jones Day advised PHH Corporation in its $912 million sale of all of its remaining MSR portfolio and related servicing advances to New Residential Investment Corp. PHH also entered into a subservicing agreement with New Residential, pursuant to which PHH will subservice the 480,000 mortgage loans underlying the MSRs acquired by New Residential.

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