<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF PHH CORPORATION FILED ON FORM
10-Q FOR THE QUARTERLY PERIOD ENDED OCTOBER 31, 1994 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<CIK> 0000077776
<NAME> PHH CORPORATION
<MULTIPLIER> 1000
<CURRENCY> 0
       
                                                  
<PERIOD-TYPE>                   3-MOS                   YEAR
<FISCAL-YEAR-END>                          APR-30-1995             APR-30-1995
<PERIOD-START>                             AUG-01-1994             MAY-01-1994
<PERIOD-END>                               OCT-31-1994             OCT-31-1994
<EXCHANGE-RATE>                                   .001                    .001
<CASH>                                            7403                      25
<SECURITIES>                                         0                       0
<RECEIVABLES>                                   404212                  477281
<ALLOWANCES>                                      7089                    6525
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                     0                       0
<PP&E>                                          105585                  108158
<DEPRECIATION>                                       0                       0
<TOTAL-ASSETS>                                 4707999                 4766783
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<BONDS>                                              0                       0
<COMMON>                                         86711                   92139
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<OTHER-SE>                                      435948                  406174
<TOTAL-LIABILITY-AND-EQUITY>                   4707999                 4766783
<SALES>                                              0                       0
<TOTAL-REVENUES>                                510137                 1030445
<CGS>                                                0                       0
<TOTAL-COSTS>                                        0                       0
<OTHER-EXPENSES>                                438919                  890843
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                               41344                   81693
<INCOME-PRETAX>                                  29874                   57909
<INCOME-TAX>                                     12262                   23782
<INCOME-CONTINUING>                                  0                       0
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     17612                   34127
<EPS-PRIMARY>                                     1.01                    1.74
<EPS-DILUTED>                                     1.01                    1.74