Jim Halliday Named President of PHH Arval

(Thomson Reuters ONE Via Acquire Media NewsEdge) Mt. Laurel, NJ - February 19, 2014 - PHH Corporation (NYSE: PHH) ("PHH" or the "Company") announced today that Jim Halliday has been named President of PHH Arval, the Company's fleet management services subsidiary. Halliday has served as Interim President of PHH Arval since December 2013.

"I'm pleased to announce Jim's appointment," said Glen Messina, president and CEO of PHH Corporation. "Jim has a deep understanding of our Fleet business, and I am confident that, under his leadership, PHH Arval will sustain and build on its position as an industry leader." Halliday joined PHH Arval in 2003 and has held a variety of senior leadership roles including Senior Vice President and Chief Business Development Officer for PHH Arval's North American operations and President of PHH Arval's Canadian fleet operations. He has more than 20 years of experience in business development, operations and management in the financial services and information management industries. Prior to joining PHH Arval, he held sales, operations and management positions with Fundata Canada, Hollinger Mutual Fund Group and Vincent Associates.

"I'm honored to have been chosen to lead PHH Arval," said Halliday. "Our unwavering commitment to customer service, product innovation and operational excellence has helped to establish us as a leader in the fleet management services industry. I look forward to PHH Arval continuing to deliver industry leading customer service and proactive solutions to our customers and their drivers." About PHH Corporation Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading provider of business process management services for the mortgage and fleet industries.

Its subsidiary, PHH Mortgage, is one of the largest originators and servicers of residential mortgages in the United States(1), and its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada.

PHH is dedicated to delivering premier customer service and providing value- added solutions to its clients. For additional information about PHH and its subsidiaries, please visit the Company's website at www.phh.com.

(1) Inside Mortgage Finance, Copyright 2013.

About PHH Arval PHH Arval, a subsidiary of PHH Corporation (NYSE: PHH), is a leading fleet management services provider in the United States and Canada. PHH Arval provides fleet management solutions to a broad range of industries. Through consultative expertise, flexible customer service, and innovative technology, PHH Arval helps clients reduce costs and increase productivity. PHH Arval is a founding member of the PHH Arval Global Alliance, which operates more than two million vehicles across North America, Europe, Australia, Africa, Asia and Latin America. For more information, visit www.phharval.com, LinkedIn, Twitter or call (800) ONLY- PHH.

Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward looking-statements are not based on historical facts but instead represent only our current beliefs regarding future events. All forward-looking statements are, by their nature, subject to risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements.

Investors are cautioned not to place undue reliance on these forward-looking statements. Such statements may be identified by words such as "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." You should understand that forward-looking statements are not guarantees of performance or results and are preliminary in nature. You should consider the areas of risk described under the heading "Cautionary Note Regarding Forward- Looking Statements" and "Risk Factors" in our periodic reports filed with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, in connection with any forward- looking statements that may be made by us or our businesses generally. Such periodic reports are available in the "Investors" section of our website at http://www.phh.com and are also available at http://www.sec.gov. Except for our ongoing obligations to disclose material information under the federal securities laws, applicable stock exchange listing standards and unless otherwise required by law, we undertake no obligation to release publicly any updates or revisions to any forward-looking statements or to report the occurrence or non-occurrence of anticipated or unanticipated events.

Contact Information: Investors Jim Ballan jim.ballan@phh.com 856-917-4311 Media Dico Akseraylian dico.akseraylian@phh.com 410-771-2038 This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: PHH Corporation via GlobeNewswire [HUG#1763223]

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