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BRIEF-Phh corp estimates Merrill Lynch originations to contribute about $45 mln of pre-tax earnings for FY 2016

Oct 4 Phh Corp:

* Unit got notice from Bank of America, exercising its right to terminate, effective as of march 31, 2017, agreement with unit which provides private label origination services on behalf of Merrill Lynch 

* Bank of America N.A. has contractual right to request termination, transition assistance services up to 12 months following March 31, 2017 termination date

* Estimates Merrill Lynch originations will contribute approximately $45 million of pre-tax earnings for fiscal year 2016 Source text - (bit.ly/2dGMq0x) Further company coverage:

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