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owner of , Coldwell Banker and other real estate After consideration of thegoodwill impairment, the mortgag segment’s loss was driven primarilyu by declining volume. Totak closings in the quarter decreased 23 percengtto $7.9 billion, compared to $10.2 billionb for the same period last year. Of this decrease, refinance closings tumbled 42 percent and purchase closings decreasef15 percent. Overall origination volumes were negatively affected by a decreass in purchase activity caused by continued weakness in thehousintg market. Net revenue for the threse monthswere $533 million, an increase of 10 percent from net revenue of $484 milliob for the same period a year ago.
PHH (NYSE:PHH) of Mounyt Laurel, N.J., operates two subsidiaries, residential mortgagew originator PHH Mortgage and fleetg management and serviceprovider . The latter employes about 1,000 people in Baltimore County, at offices in
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