Pricing Supplement Dated March 7, 1995 Rule 424 (b) (3)
File No. 33-52669
(To Prospectus dated June 23, 1994 and
Prospectus Supplement dated June 23, 1994)
PHH CORPORATION
Medium-Term Notes
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Principal Amount: $50,000,000 Trade date: March 7, 1995
Currency or Currency Unit: U.S. Dollars Original Issue Date: March 14, 1995
Issue Price: * Agent's Discount or Commission: *
Net Proceeds to Issuer: $49,980,000 Agent (s): J.P. Morgan Securities Inc.
Maturity Date: March 14, 1996 Other Terms: None
CUSIP Number: 69332H CK 0
</TABLE>
(*) The Agent proposes to offer the Notes from time to time for resale in
negotiated transactions or otherwise, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or at negotiated
prices. The Agent may be deemed to be an underwriter and any profit on resale
of the Notes may be deemed to be underwriting discounts or commissions.
<TABLE>
<CAPTION>
<S> <C> <C>
Interest:
Fixed Rate: 6.80% on an Actual/360 day basis
Floating Rate:
Base Rate: [ ] Commercial Paper [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( )Reuters (see attached)
( ) Telerate
</TABLE>
Initial Interest Rate: -
Interest Reset Dates: -
Interest Payment Dates: March 14, 1996
Index Maturity: -
Spread: -
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
Redemption:
[X] The Notes cannot be redeemed prior to maturity, except as set
forth in the Prospectus
[ ] The Notes may be redeemed prior to maturity
Initial Redemption Date:
Initial Redemption Price: %
Annual Redemption Price Reduction: % until Redemption Price is
100% of the principal amount
Repayment:
[X] The Notes cannot be repaid prior to maturity, except as set
forth in the Prospectus
[ ] The Notes can be repaid prior to maturity at the option of the
holder on the Notes
Repayment Date:
Repayment Price: %
Discount Note: [ ] Yes [X] No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [X] Global [ ] Certificated
