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MT. LAUREL, N.J. — There seems to be no let up in the accounting errors turning up for PHH Corporation in its previously issued audited financial statements for the years ended Dec. 31, 2001-2005 and its unaudited financial statements for six quarters in 2004 and 2005.

The company, the largest mortgage bank for credit unions, said its audit committee concluded that the company’s financial reports for the five years, as well as quarters ended March 31, 2004, June 30, 2004, Sept. 30, 2004, March 31, 2005, June 30, 2005 and Sept. 30, 2005 should not be relied on because of errors in the prior financial statements.

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