CONSOLIDATED BALANCE SHEETS - USD ($)		Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents		$ 542,000,000	$ 906,000,000
Restricted cash		41,000,000	57,000,000
Mortgage loans held for sale		270,000,000	683,000,000
Accounts receivable, net		78,000,000	66,000,000
Servicing advances, net		356,000,000	628,000,000
Mortgage servicing rights		476,000,000	690,000,000
Property and equipment, net		22,000,000	36,000,000
Other assets		26,000,000	109,000,000
Total assets	[1]	1,811,000,000	3,175,000,000
LIABILITIES
Accounts payable and accrued expenses		141,000,000	193,000,000
Subservicing advance liabilities		232,000,000	290,000,000
Mortgage servicing rights secured liability		419,000,000	0
Mortgage warehouse and advance facilities		252,000,000	655,000,000
Unsecured debt, net		118,000,000	607,000,000
Loan repurchase and indemnification liability		29,000,000	49,000,000
Mandatorily redeemable noncontrolling interest (Note 17)		20,000,000	0
Deferred taxes, net		0	101,000,000
Other liabilities		47,000,000	157,000,000
Total liabilities	[1]	1,258,000,000	2,052,000,000
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest (Note 1 and Note 17)		0	33,000,000
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; 32,547,258 shares issued and outstanding at December 31, 2017; 53,599,433 shares issued and outstanding at December 31, 2016		0	1,000,000
Additional paid-in capital		565,000,000	885,000,000
Retained earnings		(3,000,000)	214,000,000
Accumulated other comprehensive loss	[2]	(9,000,000)	(10,000,000)
Total PHH Corporation stockholders’ equity		553,000,000	1,090,000,000
Total liabilities and equity		1,811,000,000	3,175,000,000
Variable Interest Entity
ASSETS
Cash and cash equivalents		33,000,000	67,000,000
Restricted cash		13,000,000	24,000,000
Mortgage loans held for sale		60,000,000	350,000,000
Accounts receivable, net		1,000,000	9,000,000
Servicing advances, net		56,000,000	150,000,000
Property and equipment, net		0	1,000,000
Other assets		1,000,000	12,000,000
Total assets		164,000,000	613,000,000
LIABILITIES
Accounts payable and accrued expenses		6,000,000	11,000,000
Mortgage warehouse and advance facilities		72,000,000	399,000,000
Other liabilities		5,000,000	5,000,000
Total liabilities		$ 83,000,000	$ 415,000,000

[1] The Consolidated Balance Sheets include assets of variable interest entities which can be used only to settle the obligations and liabilities of variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries as follows: December 31, 2017 2016ASSETS Cash and cash equivalents$33 $67Restricted cash13 24Mortgage loans held for sale60 350Accounts receivable, net1 9Servicing advances, net56 150Property and equipment, net— 1Other assets1 12Total assets$164 $613 LIABILITIES Accounts payable and accrued expenses$6 $11Mortgage warehouse and advance facilities72 399Other liabilities5 5Total liabilities$83 $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 December 31, 2017 and 2016. During the years ended December 31, 2017 and 2016, there were no amounts reclassified out of Accumulated other comprehensive loss.