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BlackRock Adds to its Equity Stake in Top 10 Servicer.
Byline: Paul Muolo
New York-Subsidiaries controlled by investment banker BlackRock Financial have increased their stake in PHH Corp., Mount Laurel, N.J. - a top 10 ranked residential servicer - to 9.67%, according to a new filing with the Securities and Exchange Commission.
Previously, BlackRock affiliates controlled about 5% of PHH's outstanding common.
Two years ago General Electric Capital Corp. almost bought PHH in its entirety for $1.9 billion but the deal fell apart.
(GECC had planned to flip PHH's mortgage business - the company's biggest asset - to the Blackstone Group, which is not affiliated with BlackRock.)
Over the past four years several buyers looked at PHH including Countrywide Financial Corp., which is now part of Bank of America.
The new SEC filing says the investment banking firm owns 5.27 million shares in ...
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...Blackstone Group Agree to Acquire PHH Corporation(C)1994-2007...16032007 Headquartered in Mount Laurel, New Jersey, PHH Corporation (NYSE:PHH...MarkeGainer.com. Headquartered in Mount Laurel, NJ, PHH Corporation comprises PHH Arval...
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- Press release article from: PR Newswire March 29, 2005 700+ words
...For more information, visit http://www.phharval.com/, or call 800 ONLY PHH. About PHH Corporation Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management...
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- Press release article from: PR Newswire November 9, 2006 700+ words
...For more information, visit http://www.phharval.com/, or call 800 ONLY PHH. About PHH Corporation Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management...
Source: HighBeam Research, BlackRock Adds to its Equity Stake in Top 10 Servicer.