CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
REVENUES
Mortgage fees	$ 80	$ 86
Fleet management fees	47	42
Net fee income	127	128
Fleet lease income	336	337
Gain on mortgage loans, net	230	59
Mortgage interest income	25	35
Mortgage interest expense	(55)	(54)
Mortgage net finance expense	(30)	(19)
Loan servicing income	121	108
Change in fair value of mortgage servicing rights	(21)	(32)
Net derivative loss related to mortgage servicing rights	(5)
Valuation adjustments related to mortgage servicing rights, net	(26)	(32)
Net loan servicing income	95	76
Other income	19	84
Net revenues	777	665
EXPENSES
Salaries and related expenses	136	134
Occupancy and other office expenses	14	15
Depreciation on operating leases	301	306
Fleet interest expense	17	20
Other depreciation and amortization	6	6
Other operating expenses	179	99
Total expenses	653	580
Income before income taxes	124	85
Income tax expense	39	33
Net income	85	52
Less: net income attributable to noncontrolling interest	10	3
Net income attributable to PHH Corporation	$ 75	$ 49
Basic earnings per share attributable to PHH Corporation (in dollars per share)	$ 1.32	$ 0.87
Diluted earnings per share attributable to PHH Corporation (in dollars per share)	$ 1.30	$ 0.84