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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES      
Origination and other loan fees $ 136 $ 280 $ 284
Gain on loans held for sale, net 144 262 298
Loan servicing income, net 137 125 236
Net interest expense (36) (32) (46)
Other income (loss) 75 (13) 18
Net revenues 456 622 790
EXPENSES      
Salaries and related expenses 263 345 323
Commissions 44 64 79
Loan origination expenses 31 64 91
Foreclosure and repossession expenses 19 35 51
Professional and third-party service fees 120 156 171
Technology equipment and software expenses 35 42 37
Occupancy and other office expenses 33 47 50
Depreciation and amortization 14 16 18
Exit and disposal costs 62 41 0
Other operating expenses 108 116 183
Total expenses 729 926 1,003
Loss before income taxes (273) (304) (213)
Income tax benefit (79) (111) (82)
Net loss (194) (193) (131)
Less: net income attributable to noncontrolling interest 23 9 14
Net loss attributable to PHH Corporation $ (217) $ (202) $ (145)
Basic and Diluted loss per share attributable to PHH Corporation (in dollars per share) $ (4.62) $ (3.77) $ (2.62)