PHH is selling its remaining residential mortgage servicing portfolio to the real estate investment trust New Residential.

The $72 billion portfolio includes a mix of private-label mortgages and mortgages insured by Fannie Mae and Freddie Mac.  It excludes Ginnie Mae-insured mortgages that PHH services, which PHH previously disclosed it is selling to Lakeview Loan Servicing for $120 million.

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