PHH Corp.'s net loss narrowed in the third quarter but the mortgage outsourcer was plagued by credit charges and a drop in the value of its servicing portfolio from higher delinquencies and foreclosures.

The Mount Laurel, N.J. company said Thursday that it lost $52 million, or 94 cents a share, compared with a loss of from $84 million, or $1.56 a share, a year earlier.

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