CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 1,451		$ 1,126
Restricted cash	47		27
Mortgage loans held for sale	721		834
Accounts receivable, net	672		630
Property and equipment, net	38		51
Other assets	390		450
Assets held for sale (Note 2)			4,456
Total assets	4,683	[1]	8,853	[1]
LIABILITIES
Accounts payable and accrued expenses	1,072		583
Debt	1,580		2,024
Other liabilities	114		150
Liabilities held for sale (Note 2)			3,719
Total liabilities	3,075	[1]	7,163	[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)	50,840,342		57,265,517
Common stock, shares outstanding (in shares)	50,840,342		57,265,517
Variable Interest Entity
ASSETS
Cash and cash equivalents	86		94
Restricted cash	8		3
Mortgage loans held for sale	352		318
Accounts receivable, net	192		7
Property and equipment, net	1		2
Other assets	9		7
Assets held for sale (Note 2)			3,853
Total assets	648		4,284
LIABILITIES
Accounts payable and accrued expenses	14		16
Debt	442		289
Other liabilities	10		12
Liabilities held for sale (Note 2)			3,471
Total liabilities	$ 466		$ 3,788

[1] The Condensed 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: