Exhibit (24)

                                PHH CORPORATION

                               Power of Attorney


       KNOW ALL MEN BY THESE PRESENTS,  as of this 15th day of April, 1996, that
the  undersigned  directors  and  officers  of   PHH   Corporation,  a  Maryland
Corporation with Offices at 11333  McCormick  Road, Hunt Valley, Maryland  21031
(the  "Corporation"),  hereby  constitute  and appoint Robert D. Kunisch, Samuel
H. Wright  and  Gordon W.  Priest, Jr.,  and  each of them, the true and  lawful
agents   and   attorneys-in-fact   of   the  undersigned,  with  full  power  of
substitution and  with  full  power and  authority in said agents and attorneys-
in-fact, and in any one or more of them, to sign for the undersigned as director
and/or officer of the  Corporation the  Corporation's annual report on Form 10-K
for  the fiscal  year  ended  April  30,  1996,  filed  pursuant  to Section  13
under  the  Securities  Exchange Act of 1934 with the  Securities  and  Exchange
Commission,  Washington, D.C., or any  registration or filing with any state  or
local jurisdiction within the United States or any foreign jurisdiction, and any
exhibits, amendments, or supplemental submissions to such SEC  or  state, local,
or  foreign  registration  of  filing   (including  post-effective  amendments),
hereby  ratifying and confirming all acts taken by such agents and attorneys-in-
fact, or any one or more of them, as  herein authorized.

       JAMES S. BEARD                      Director
       James S. Beard

       ANDREW F. BRIMMER                   Director
       Andrew F. Brimmer

       GEORGE L. BUNTING, JR.              Director
       George L. Bunting, Jr.

       ALAN P. HOBLITZELL, JR.             Director
       Alan P. Hoblitzell, Jr.

       PAUL X. KELLEY                      Director
       Paul X. Kelley

       L. PATTON KLINE                     Director
       L. Patton Kline

       FRANCIS P. LUCIER                   Director
       Francis P. Lucier

                                       35



       KENT C. NELSON                      Director
       Kent C. Nelson

       DONALD J. SHEPARD                   Director
       Donald J. Shepard

       ANNE M. TATLOCK                     Director
       Anne M. Tatlock

       ALEXANDER B. TROWBRIDGE             Director
       Alexander B. Trowbridge

       ROBERT D. KUNISCH                   Director, Chairman
       Robert D. Kunisch                   of the Board, President &
                                           Chief Executive Officer