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,
shareholders'  equity and cash flows of PHH Corporation and subsidiaries for the
year ended  December  31, 1996,  before the  restatement  and  reclassifications
described in Note 3 to the consolidated  financial  statements,  which report is
included in the Annual Report on Form 10-K of PHH Corporation for the year ended
December 31, 1998.


\s\ KPMG LLP



Baltimore, Maryland
March 25, 1999