Summary
Choice between personal computers and mainframe - Cover Story
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The best of both worlds.
IN JULY 1987, PHH US Mortgage Corporation, (PHH USMC) Cherry Hill, New Jersey, was a small regional mortgage company whose strategy was to significantly increase its business each year. Company officials are proud to report that the strategy is working: a dramatic transformation has taken place between then and now. PHH USMC currently maintains a $7 billion servicing portfolio; and is the fifth-largest seller of mortgages to Fannie Mae. Its origination volume tripled from 1990 to 1991. But things didn't always run smoothly. ...
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