CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Jun. 30, 2013		Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 1,044		$ 829
Restricted cash, cash equivalents and investments	349		425
Mortgage loans held for sale	1,751		2,174
Accounts receivable, net	972		797
Net investment in fleet leases	3,736		3,636
Property, plant and equipment, net	76		79
Other assets	571		616
Total assets	9,771	[1]	9,603	[1]
Restricted investments, at fair value	0		121
LIABILITIES
Accounts payable and accrued expenses	782		586
Debt	6,323		6,554
Other liabilities	274		279
Total liabilities	8,084	[1]	8,041	[1]
EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)	1,090,000		1,090,000
Preferred stock, shares issued (in shares)	0		0
Preferred stock, shares outstanding (in shares)	0		0
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	273,910,000		273,910,000
Common stock, shares issued (in shares)	57,105,651		56,975,991
Common stock, shares outstanding (in shares)	57,105,651		56,975,991
Variable Interest Entity
ASSETS
Cash and cash equivalents	73		66
Restricted cash, cash equivalents and investments	298		249
Mortgage loans held for sale	667		730
Accounts receivable, net	92		90
Net investment in fleet leases	3,634		3,531
Property, plant and equipment, net	2		2
Other assets	43		39
Total assets	4,809		4,707
LIABILITIES
Accounts payable and accrued expenses	35		36
Debt	4,140		4,074
Other liabilities	17		13
Total liabilities	$ 4,192		$ 4,123

[1] The Condensed Consolidated Balance Sheets include assets of variable interest entities which can be used only to settle their obligations and liabilities of variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries as follows: