CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 453	$ 509
Restricted cash		41	33
Mortgage loans held for sale		55	103
Accounts receivable, net		58	73
Servicing advances, net		302	356
Mortgage servicing rights		483	476
Property and equipment, net		18	22
Other assets		28	25
Assets related to discontinued operations (Note 8)		4	214
Total assets	[1]	1,442	1,811
LIABILITIES
Accounts payable and accrued expenses		67	98
Subservicing advance liabilities		194	232
Mortgage servicing rights secured liability		437	419
Mortgage warehouse and advance facilities		59	117
Unsecured debt, net		118	118
Loan repurchase and indemnification liability		27	29
Other liabilities		42	46
Liabilities related to discontinued operations (Note 8)		9	199
Total liabilities	[1]	953	1,258
Commitments and contingencies (Note 11)
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; 32,577,256 shares issued and outstanding at June 30, 2018; 32,547,258 shares issued and outstanding at December 31, 2017		0	0
Additional paid-in capital		566	565
Retained deficit		(68)	(3)
Accumulated other comprehensive loss	[2]	(9)	(9)
Total PHH Corporation stockholders’ equity		489	553
Total liabilities and equity		$ 1,442	$ 1,811

[1] The Condensed Consolidated Balance Sheets include assets and liabilities of variable interest entities which can be used only to settle the obligations and liabilities of the variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries. Refer to Note 12, 'Variable Interest Entities' for information about PHH Home Loans, LLC, whose assets and liabilities are part of the Company's discontinued operations, and as of June 30, 2018 is no longer a variable interest entity. The following assets and liabilities relate solely to risks associated with the Company's ongoing involvement in Servicing Advance Receivables Trust: June 30, 2018 December 31, 2017ASSETS Restricted cash$10 $10Servicing advances, net46 56Total assets$56 $66Assets held as collateral$56 $66 LIABILITIES Mortgage warehouse and advance facilities$20 $32Total liabilities$20 $32

[2] Includes amounts recorded related to the Company’s defined benefit pension plan, net of income tax benefits of $6 million as of both June 30, 2018 and December 31, 2017. During both the three and six months ended June 30, 2018 and June 30, 2017, there were no amounts reclassified out of Accumulated other comprehensive loss.