<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 JANUARY 31, 1995 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>                   9-MOS                            
  <FISCAL-YEAR-END>                                    APR-30-1995 
  <PERIOD-START>                                       MAY-01-1994 
  <PERIOD-END>                                         JAN-31-1995 

  <EXCHANGE-RATE>                                             .001 
  <CASH>                                                      9053 
  <SECURITIES>                                                   0 
  <RECEIVABLES>                                             485999
  <ALLOWANCES>                                                6800

  <INVENTORY>                                                    0
  <CURRENT-ASSETS>                                               0
  <PP&E>                                                    102785
  <DEPRECIATION>                                                 0 
  <TOTAL-ASSETS>                                           4890823

  <CURRENT-LIABILITIES>                                          0
  <BONDS>                                                        0
  <COMMON>                                                   78072
  <PREFERRED-MANDATORY>                                          0
  <PREFERRED>                                                    0

  <OTHER-SE>                                                443350
  <TOTAL-LIABILITY-AND-EQUITY>                             4890823
  <SALES>                                                        0 
  <TOTAL-REVENUES>                                         1524586
  <CGS>                                                          0 

  <TOTAL-COSTS>                                                  0
  <OTHER-EXPENSES>                                         1566263
  <LOSS-PROVISION>                                               0
  <INTEREST-EXPENSE>                                        127840
  <INCOME-PRETAX>                                            86163
 <INCOME-TAX>                                                35274
  <INCOME-CONTINUING>                                            0 
  <DISCONTINUED>                                                 0 
  <EXTRAORDINARY>                                                0

  <CHANGES>                                                      0 
  <NET-INCOME>                                               50889
  <EPS-PRIMARY>                                               2.94
  <EPS-DILUTED>                                               2.94