The Group's principal activities are outsourcing of mortgage and vehicle fleet management services. It operates through three segments: Mortgage Production, Mortgage Servicing and Fleet Management Services. Mortgage Production originates purchases and sells mortgage loans through PHH Mortgage Corporation and its subsidiaries. Mortgage Servicing acts as subservicer for certain clients that own the underlying contractual rights and it consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for payment of mortgage-related expenses and administering our mortgage loan servicing portfolio. Fleet Management Services provides commercial fleet management services to corporate clients and government agencies throughout the United States and Canada through our wholly owned subsidiary, PHH Vehicle Management Services Group LLC. It also provides vehicle leasing as well as fuel, maintenance and accident management.
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