content: <HTML><HEAD><TITLE>PHH Corporation Form 8-K 01.14.2005</TITLE><!-- Licensed to: Cendant Corporation--><!-- Document Created using EDGARIZER HTML --><!-- Copyright 2004 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com --></HEAD>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -27pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></DIV>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Date of Report (Date of earliest event reported</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><EM>)</EM></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><STRONG>&nbsp;</STRONG></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><STRONG><U>January 14, 2005 (January 10, 2005)</U></STRONG></FONT></DIV>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></DIV>
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  <TD width="11%">&nbsp;&nbsp;<STRONG>I<FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">tem 2.04 </FONT></STRONG></TD>
  <TD width="69%"><STRONG>Triggering Events That Accelerate or Increase a Direct Financial <FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Obligation or an Obligation under an Off-Balance Sheet Arrangement.</FONT></STRONG></TD></TR></TABLE></DIV>
  <P style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt"><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Pursuant to the Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein, on January 10, 2005, we gave notice to holders that we have elected to redeem on February 9, 2005 the $443,000,000 aggregate principal amount outstanding of our private placement notes for cash at an aggregate estimated price equal to approximately $488,000,000 (consisting of the aggregate principal amount of the notes outstanding plus an estimated make-whole amount) plus accrued and unpaid interest to the redemption date of approximately $9,000,000. </FONT></P>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">The Note Purchase Agreement is incorporated by reference herein to Exhibit 4.1 to our Quarterly Report on 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002.</FONT></DIV>
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  <TD width="11%">&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 9.01 </STRONG></FONT></TD>
  <TD width="69%">&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Financial Statements and Exhibits.</STRONG></FONT></TD></TR></TABLE></DIV>
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  <TD style="WIDTH: 63pt" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(c)&nbsp;&nbsp;</FONT></TD>
  <TD><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Exhibits.</FONT></TD></TR></TABLE>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein (Incorporated by reference to Exhibit 4.1 to PHH's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002). </FONT></DIV></TD></TR></TABLE></DIV>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align=center><STRONG>SIGNATURE</STRONG></DIV>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align=center><STRONG></STRONG>&nbsp;</DIV>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></DIV>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><STRONG>By:</STRONG></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"> /s/ Eric Bock</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 9pt">&nbsp;</FONT></DIV></TD></TR>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Eric J. Bock</FONT></DIV>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Executive Vice President </FONT></DIV>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">and Corporate Secretary</FONT></DIV></TD></TR></TABLE>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align=left><BR></DIV>
  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Date: January 14, 2005</FONT></DIV><BR>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">4.1</FONT></DIV></TD>
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  <DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein (Incorporated by reference to Exhibit 4.1 to PHH's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002). </FONT></DIV>
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metadata_filer: {"company-data": {"conformed-name": "PHH CORP", "cik": "0000077776", "assigned-sic": "6159", "irs-number": "520551284", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-07797", "film-number": "05530600"}, "business-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "4107713600"}, "mail-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "PHH GROUP INC", "date-changed": "19880913"}, {"former-conformed-name": "PETERSON HOWELL & HEATHER INC", "date-changed": "19790121"}]}
text: PHH Corporation Form 8-K 01.14.2005
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  ____________
  Form 8-K
  CURRENT REPORT
  PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  ____________
  Date of Report (Date of earliest event reported
  )
  January 14, 2005 (January 10, 2005)
  PHH Corporation
  (Exact name of Registrant as specified in its charter)
  Maryland
  (State or other jurisdiction
  of incorporation)
  1-7797
  (Commission File No.)
  52-0551284
  (I.R.S. Employer
  Identification Number)
  1 Campus Drive
  Parsippany, New Jersey
  (Address of principal
  executive office)
  07054
  (Zip Code)
  Registrant's telephone number, including area code
  (973) 428-9700
  None
  (Former name or former address if changed since last report)
  Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  [  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ] Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)
  [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  I
  tem 2.04
  Triggering Events That Accelerate or Increase a Direct Financial
  Obligation or an Obligation under an Off-Balance Sheet Arrangement.
  Pursuant to the Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein, on January 10, 2005, we gave notice to holders that we have elected to redeem on February 9, 2005 the $443,000,000 aggregate principal amount outstanding of our private placement notes for cash at an aggregate estimated price equal to approximately $488,000,000 (consisting of the aggregate principal amount of the notes outstanding plus an estimated make-whole amount) plus accrued and unpaid interest to the redemption date of approximately $9,000,000.
  The Note Purchase Agreement is incorporated by reference herein to Exhibit 4.1 to our Quarterly Report on 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002.
  Item 9.01
  Financial Statements and Exhibits.
  (c)
  Exhibits.
  4.1
  Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein (Incorporated by reference to Exhibit 4.1 to PHH's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002).
  4.2
  Forms of private placement notes (Included in Exhibit 4.1).
  SIGNATURE
  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  PHH CORPORATION
  By:
  /s/ Eric Bock
  Eric J. Bock
  Executive Vice President
  and Corporate Secretary
  Date: January 14, 2005
  PHH CORPORATION
  CURRENT REPORT ON FORM 8-K
  Report Dated January 14, 2005 (January 10, 2005)
  EXHIBIT INDEX
  Exhibit No.
  Description
  4.1
  Note Purchase Agreement, dated May 3, 2002, between PHH Corporation and each of the purchasers named therein (Incorporated by reference to Exhibit 4.1 to PHH's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2002, dated August 14, 2002).
  4.2
  Forms of private placement notes (Included in Exhibit 4.1).