tag:blogger.com,1999:blog-33255068.post6533894298638200264..comments2023-11-02T05:18:21.296-07:00Comments on Bakersfield Bubble: Dropping like fliesBakersfield Bubblehttp://www.blogger.com/profile/12663275045022347451noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-33255068.post-7813981053530803862007-01-25T20:04:00.000-08:002007-01-25T20:04:00.000-08:00Thanks re bear!Thanks re bear!Bakersfield Bubblehttps://www.blogger.com/profile/12663275045022347451noreply@blogger.comtag:blogger.com,1999:blog-33255068.post-72541689770836703152007-01-25T19:30:00.000-08:002007-01-25T19:30:00.000-08:00PHH ( based in MT. Laurel, NJ)Expects Loss of Up t...PHH ( based in MT. Laurel, NJ)Expects Loss of Up to $29M in 2006<br /><br />http://corporate.phh.com/phoenix.zhtml?c=187859&p=irol-newsArticle&ID=953524&highlight=<br /><br />“.. On a consolidated basis, we expect to record a pre-tax loss of between $10 million and $20 million and an after tax loss of between $22 million and $29 million for the year ended December 31, 2006″<br /><br />“… Accordingly, we have taken steps, including a reduction in force, a reduction in IT spending, outsourcing certain back office operations, and a reduction in general and administrative expenses, which we believe will reduce the costs in our mortgage production and mortgage servicing segments by approximately $50 million in 2007.”<br /><br />In 2005, the company earned $72 million, or $1.34 per share.<br /><br />>><br />PHH Mortgage, previously operating as Cendant Mortgage, is one of the top ten retail originators of residential mortgage loans in the United States<br /><br />___<br />Sorry if this a duplicate.Anonymoushttps://www.blogger.com/profile/12974953570630555271noreply@blogger.com