EXHIBIT 23.2


                          INDEPENDENT AUDITORS' CONSENT


The Board of Directors
PHH Corporation:


We consent to the  incorporation  by reference in  Registration  Statement  Nos.
33-63627,  333-27715 and 333-45373 on Forms S-3 of PHH Corporation of our report
dated April 30, 1997,  with respect to the  consolidated  statements  of income,
shareholder's  equity and cash flows of PHH Corporation and subsidiaries for the
year ended  December 31, 1996,  before the  restatements  and  reclassifications
described  in  Notes 3 and 4 to the  consolidated  financial  statements,  which
report is included in the Annual  Report on Form 10-K/A of PHH  Corporation  for
the year ended December 31, 1998.


KPMG LLP

Baltimore, Maryland
August 11, 1999