The Company is a outsource provider of mortgage and fleet management services operating in the following business segments: Mortgage Production, Mortgage Servicing and Fleet Management Services.
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I believe the financing of the sale of the company will come through - if not, then Blackstone will have to pay a hefty penalty that can only help PHH. Also, there was a big push by a significant stockholder to deny the sale because the sale price was undervalued. I am willing to wait and see what happens in the next few months.