SAN FRANCISCO (CBS.MW) -- Cendant Corp. said Tuesday after the bell that it plans to spin off its mortgage and fleet operations at PHH Corp. in a move the company says will let it focus on its ...

Cendant expects to name Terence Edwards to be CEO of PHH Corp., which will have a book value of $1.2 billion. The spin-off should be completed in the first quarter of next year, the company said ...

Cendant, which will keep PHH’s relocation and mortgage business, said the deal marks the end of a “strategic realignment” intended to sharpen the company’s focus and reduce its debt after ...