CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents		$ 494	$ 906
Restricted cash		52	57
Mortgage loans held for sale		590	683
Accounts receivable, net		94	66
Servicing advances, net		413	628
Mortgage servicing rights		500	690
Property and equipment, net		24	36
Deferred taxes, net		80	0
Other assets		54	109
Total assets	[1]	2,301	3,175
LIABILITIES
Accounts payable and accrued expenses		218	193
Subservicing advance liabilities		228	290
Mortgage servicing rights secured liability		440	0
Debt, net		653	1,262
Deferred taxes, net		0	101
Loan repurchase and indemnification liability		38	49
Other liabilities		86	157
Total liabilities	[1]	1,663	2,052
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest (Note 1 and Note 13)		44	33
EQUITY
Preferred stock, $0.01 par value; 1,090,000 shares authorized; none issued or outstanding		0	0
Common stock, $0.01 par value; 273,910,000 shares authorized; 32,543,288 shares issued and outstanding at September 30, 2017; 53,599,433 shares issued and outstanding at December 31, 2016		0	1
Additional paid-in capital		558	885
Retained earnings		46	214
Accumulated other comprehensive loss	[2]	(10)	(10)
Total PHH Corporation stockholders’ equity		594	1,090
Total liabilities and equity		2,301	3,175
Variable Interest Entity
ASSETS
Cash and cash equivalents		60	67
Restricted cash		18	24
Mortgage loans held for sale		239	350
Accounts receivable, net		17	9
Servicing advances, net		80	150
Property and equipment, net		0	1
Other assets		7	12
Total assets		421	613
LIABILITIES
Accounts payable and accrued expenses		14	11
Debt, net		258	399
Other liabilities		6	5
Total liabilities		$ 278	$ 415

[1] The Condensed Consolidated Balance Sheets include assets and liabilities of variable interest entities which can be used only to settle the obligations and liabilities of the variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries. These assets and liabilities are as follows: September 30, 2017 December 31, 2016ASSETS Cash and cash equivalents$60 $67Restricted cash18 24Mortgage loans held for sale239 350Accounts receivable, net17 9Servicing advances, net80 150Property and equipment, net— 1Other assets7 12Total assets$421 $613 LIABILITIES Accounts payable and accrued expenses$14 $11Debt258 399Other liabilities6 5Total liabilities$278 $415

[2] Includes amounts recorded related to the Company’s defined benefit pension plan, net of income tax benefits of $6 million as of both September 30, 2017 and December 31, 2016. During both the three and nine months ended September 30, 2017 and September 30, 2016, there were no amounts reclassified out of Accumulated other comprehensive loss.