PHH Corporation History

The company originated in 1946, when Duane Peterson, Harley Howell, and Dick Heather formed a partnership to manage corporate automobile fleets.

The idea was advanced at the time when postwar cars were just beginning to be produced, and the firm prospered. It was incorporated in 1953 as Peterson, Howell Heather.

The building of company headquarters in Hunt Valley, Maryland, began in 1972.

PHH officials decided in 1990 to exit the facilities management services operations because the required investments of assets and time were too great.

The transaction resulted in a 241 million net gain on sale reported on the 2014 Annual Report.

The United States Court of Appeals for the District of Columbia Circuit stayed Director Cordray's decision in August, 2015.

On January 31, 2018, the en banc D.C. Circuit overturned the panel's constitutional decision and upheld the removal protections for the CFPB director.