Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2


*CONTACT INFORMATION*

Depositor	PHH Mortgage Capital LLC
	3000 Leadenhall Road
	Mt. Laurel, NJ 08054

Underwriter	William J. Mayer Securities, LLC
	60 Arch Street
	Greenwich, CT 06830

Master Servicer	PHH Mortgage Corporation
	3000 Leadenhall Road
	Mt. Laurel, NJ 08054

Trustee	Citibank, N.A.
	388 Greenwich Street, 14th Floor
	New York, NY 10013


*CONTENTS*

Distribution Summary	2

Distribution Summary (Factors)	3

Interest Distribution	4

Principal Distribution	5

Reconciliation Detail	6

Collateral Summary	6

Delinquency Information	8

Standard Prepayment and Default Information	10

Distribution Waterfall Detail	11

Other Information	13


Deal Contact:	John Byrnes	Citibank, N.A.
	john.j.byrnes.jr@citi.com	Agency and Trust
	Tel: (212) 816-5639	388 Greenwich Street, 14th Floor
	Fax: (212) 816-5527	New York, NY 10013

Reports Available at www.sf.citidirect.com

Page 1 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Distribution Summary

DISTRIBUTION IN DOLLARS


Class	Original Balance	Prior Principal Balance	Pass- Through Rate	Accrual Day Count	Accrual Dates	Interest Distributed	Principal Distributed	Total Distributed	Deferred Interest	Realized Loss	Current Principal Balance
(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)=(7+8)	(10)	(11)	(12)=(3-8+10-11)
A1	40,623,367.00	40,623,367.00	5.962363%	30 / 360	07/01 - 07/31	201,842.70	0.00	201,842.70	0.00	0.00	40,623,367.00
A2	49,813,341.00	47,557,634.92	5.962363%	30 / 360	07/01 - 07/31	236,296.55	502,579.93	738,876.48	0.00	0.00	47,055,054.99
A3	38,921,344.00	37,707,346.26	5.712363%	30 / 360	07/01 - 07/31	179,498.36	280,862.84	460,361.20	0.00	0.00	37,426,483.42
A5	6,091,021.00	6,182,303.52	5.962363%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	30,717.61	0.00	6,213,021.13
A6	19,821,845.00	20,118,903.21	5.962363%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	99,963.50	0.00	20,218,866.71
RI	100.00	0.00	5.962363%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	0.00	0.00	0.00
RII	100.00	0.00	5.962363%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	0.00	0.00	0.00
B1	7,515,783.00	7,495,981.86	5.962363%	30 / 360	07/01 - 07/31	37,244.80	6,836.36	44,081.16	0.00	0.00	7,489,145.50
B2	908,501.00	906,107.46	5.962363%	30 / 360	07/01 - 07/31	4,502.12	826.37	5,328.49	0.00	0.00	905,281.09
B3	578,137.00	576,613.84	5.962363%	30 / 360	07/01 - 07/31	2,864.98	525.87	3,390.85	0.00	0.00	576,087.97
B4	330,364.00	329,493.62	5.962363%	30 / 360	07/01 - 07/31	1,637.13	300.50	1,937.63	0.00	0.00	329,193.12
B5	330,364.00	329,493.62	5.962363%	30 / 360	07/01 - 07/31	1,637.13	300.50	1,937.63	0.00	0.00	329,193.12
B6	247,774.00	247,121.21	5.962363%	30 / 360	07/01 - 07/31	1,227.86	225.38	1,453.24	0.00	0.00	246,895.83
Totals	165,182,041.00	162,074,366.52				666,751.63	792,457.75	1,459,209.38	130,681.11	0.00	161,412,589.88
Notional Classes
A4	38,921,344.00	37,707,346.26	0.250000%	30 / 360	07/01 - 07/31	7,855.70	0.00	7,855.70	0.00	0.00	37,426,483.42

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Page 2 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Distribution Summary (Factors)

PER $1,000 OF ORIGINAL BALANCE


Class	CUSIP	Record Date	Prior Principal Balance	Interest Distributed	Principal Distributed	Total Distributed	Deferred Interest	Realized Loss	Current Principal Balance
			(3/2 x 1000)	(7/2 x 1000)	(8/2 x 1000)	(9/2 x 1000)	(10/2 x 1000)	(11/2 x 1000)	(12/2 x 1000)
A1	69337GAA1	07/31/2007	1,000.000000	4.968635	0.000000	4.968635	0.000000	0.000000	1,000.000000
A2	69337GAB9	07/31/2007	954.716828	4.743640	10.089264	14.832903	0.000000	0.000000	944.627565
A3	69337GAC7	07/31/2007	968.808946	4.611823	7.216165	11.827988	0.000000	0.000000	961.592781
A5	69337GAJ2	07/31/2007	1,014.986407	0.000000	0.000000	0.000000	5.043097	0.000000	1,020.029504
A6	69337GAK9	07/31/2007	1,014.986406	0.000000	0.000000	0.000000	5.043098	0.000000	1,020.029503
RI	69337GAE3	07/31/2007	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
RII	69337GAF0	07/31/2007	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
B1	69337GAL7	07/31/2007	997.365392	4.955545	0.909601	5.865145	0.000000	0.000000	996.455792
B2	69337GAG8	07/31/2007	997.365396	4.955548	0.909597	5.865145	0.000000	0.000000	996.455799
B3	69337GAH6	07/31/2007	997.365400	4.955538	0.909594	5.865132	0.000000	0.000000	996.455805
B4	69337GAM5	07/31/2007	997.365391	4.955534	0.909603	5.865137	0.000000	0.000000	996.455788
B5	69337GAN3	07/31/2007	997.365391	4.955534	0.909603	5.865137	0.000000	0.000000	996.455788
B6	69337GAP8	07/31/2007	997.365381	4.955564	0.909619	5.865184	0.000000	0.000000	996.455762
A4	69337GAD5	07/31/2007	968.808946	0.201835	0.000000	0.201835	0.000000	0.000000	961.592781

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Page 3 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Interest Distribution Detail

DISTRIBUTION IN DOLLARS


Class	Prior Principal Balance	Pass- Through Rate	Next Pass- Through Rate	Interest Accrual Day Cnt Fraction	Optimal Accrued Interest	Prior Unpaid Interest	Interest on Prior Unpaid Interest	Non-Recov. Interest Shortfall	Interest Due	Deferred Interest	Interest Distributed	Current Unpaid Interest
(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)=(6)+(7)+(8)-(9)	(11)	(12)	(13)=(10)-(11)-(12)
A1	40,623,367.00	5.96236%	5.96248%	30 / 360	201,842.70	0.00	0.00	0.00	201,842.70	0.00	201,842.70	0.00
A2	47,557,634.92	5.96236%	5.96248%	30 / 360	236,296.55	0.00	0.00	0.00	236,296.55	0.00	236,296.55	0.00
A3	37,707,346.26	5.71236%	5.71248%	30 / 360	179,498.36	0.00	0.00	0.00	179,498.36	0.00	179,498.36	0.00
A5	6,182,303.52	5.96236%	5.96248%	30 / 360	30,717.61	0.00	0.00	0.00	30,717.61	30,717.61	0.00	0.00
A6	20,118,903.21	5.96236%	5.96248%	30 / 360	99,963.50	0.00	0.00	0.00	99,963.50	99,963.50	0.00	0.00
RI	0.00	5.96236%	5.96248%	30 / 360	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RII	0.00	5.96236%	5.96248%	30 / 360	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
B1	7,495,981.86	5.96236%	5.96248%	30 / 360	37,244.80	0.00	0.00	0.00	37,244.80	0.00	37,244.80	0.00
B2	906,107.46	5.96236%	5.96248%	30 / 360	4,502.12	0.00	0.00	0.00	4,502.12	0.00	4,502.12	0.00
B3	576,613.84	5.96236%	5.96248%	30 / 360	2,864.98	0.00	0.00	0.00	2,864.98	0.00	2,864.98	0.00
B4	329,493.62	5.96236%	5.96248%	30 / 360	1,637.13	0.00	0.00	0.00	1,637.13	0.00	1,637.13	0.00
B5	329,493.62	5.96236%	5.96248%	30 / 360	1,637.13	0.00	0.00	0.00	1,637.13	0.00	1,637.13	0.00
B6	247,121.21	5.96236%	5.96248%	30 / 360	1,227.86	0.00	0.00	0.00	1,227.86	0.00	1,227.86	0.00
Totals	162,074,366.52				797,432.74	0.00	0.00	0.00	797,432.74	130,681.11	666,751.63	0.00
Notional Classes
A4	37,707,346.26	0.25000%	0.25000%	30 / 360	7,855.70	0.00	0.00	0.00	7,855.70	0.00	7,855.70	0.00

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Page 4 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Principal Distribution Detail

DISTRIBUTION IN DOLLARS


Class	Original Balance	Prior Principal Balance	Scheduled Principal Distribution	Unscheduled Principal Distribution	Accreted Principal	Current Realized Losses	Current Principal Recoveries	Current Principal Balance	Cumulative Realized Losses	Original Class (%)	Current Class (%)	Original Credit Support	Current Credit Support
(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)=(3)-(4)-(5)+(6)-(7)+(8)	(10)	(11)	(12)	(13)	(14)
A1	40,623,367.00	40,623,367.00	0.00	0.00	0.00	0.00	0.00	40,623,367.00	0.00	24.59%	25.17%	6.00%	6.12%
A2	49,813,341.00	47,557,634.92	69,731.08	211,796.59	0.00	0.00	0.00	47,055,054.99	0.00	30.16%	29.15%	6.00%	6.12%
A3	38,921,344.00	37,707,346.26	69,066.25	211,796.59	0.00	0.00	0.00	37,426,483.42	0.00	23.56%	23.19%	6.00%	6.12%
A5	6,091,021.00	6,182,303.52	0.00	0.00	30,717.61	0.00	0.00	6,213,021.13	0.00	3.69%	3.85%	6.00%	6.12%
A6	19,821,845.00	20,118,903.21	0.00	0.00	99,963.50	0.00	0.00	20,218,866.71	0.00	12.00%	12.53%	6.00%	6.12%
RI	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00%	0.00%	6.00%	100.00%
RII	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00%	0.00%	6.00%	100.00%
B1	7,515,783.00	7,495,981.86	6,836.36	0.00	0.00	0.00	0.00	7,489,145.50	0.00	4.55%	4.64%	1.45%	1.48%
B2	908,501.00	906,107.46	826.37	0.00	0.00	0.00	0.00	905,281.09	0.00	0.55%	0.56%	0.90%	0.92%
B3	578,137.00	576,613.84	525.87	0.00	0.00	0.00	0.00	576,087.97	0.00	0.35%	0.36%	0.55%	0.56%
B4	330,364.00	329,493.62	300.50	0.00	0.00	0.00	0.00	329,193.12	0.00	0.20%	0.20%	0.35%	0.36%
B5	330,364.00	329,493.62	300.50	0.00	0.00	0.00	0.00	329,193.12	0.00	0.20%	0.20%	0.15%	0.15%
B6	247,774.00	247,121.21	225.38	0.00	0.00	0.00	0.00	246,895.83	0.00	0.15%	0.15%	0.00%	0.00%
Totals	165,182,041.00	162,074,366.52	147,812.31	423,593.18	130,681.11	0.00	0.00	161,412,589.88	0.00	100%	100%

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Page 5 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Reconciliation Detail


*SOURCE OF FUNDS*
Interest Funds Available
Scheduled Interest	840,742.19
Uncompensated PPIS	0.00
Relief Act Interest Shortfall	0.00
Interest Adjustments	0.00
Total Interest Funds Available:		840,742.19
Principal Funds Available
Scheduled Principal	147,812.31
Curtailments	513,964.33
Prepayments in Full	0.00
Liquidation Proceeds	0.00
Repurchased Principal	0.00
Substitution Principal	0.00
Other Principal	0.00
Total Principal Funds Available:		661,776.64
Total Funds Available		1,502,518.83


*ALLOCATION OF FUNDS*
Scheduled Fees
Servicing Fee	33,765.51
Trustee Fee	1,688.24
Total Scheduled Fees:		35,453.75
Additional Fees, Expenses, etc.
Extraordinary Trust Fund Expenses	0.00
Other Expenses	0.00
Total Additional Fees, Expenses, etc.:		0.00
Distribution to Certificateholders
Interest Distribution	674,607.33
Principal Distribution	792,457.75
Total Distribution to Certificateholders:		1,467,065.08
Total Funds Allocated		1,502,518.83

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Page 6 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Collateral Summary


*ASSET CHARACTERISTICS*

	Cut-Off			Prior			Current

Aggregate Stated Principal Balance		165,182,040.79			162,074,366.31			161,412,589.67

Loan Count		270			266			266

Weighted Average Coupon Rate (WAC)		6.228580	%		6.224862	%		6.225503	%

Net Weighted Average Coupon Rate (Net WAC)		5.966080	%		5.962362	%		5.963003	%

Weighted Average Remaining Term (WART in months)		356			353			352


*AVAILABLE PRINCIPAL*

Scheduled Principal	147,812.31
Curtailments	513,964.33
Principal Prepayments	0.00
Liquidation Proceeds	0.00
Repurchased Principal	0.00
Trailing Recoveries	0.00
TOTAL AVAILABLE PRINCIPAL	661,776.64

Current Realized Losses	0.00
Current Bankruptcy Losses	0.00
Cumulative Realized Losses	0.00


*AVAILABLE INTEREST*

Scheduled Interest		840,742.19

Less:	Servicing Fee	33,765.51
	Trustee Fee	1,688.24
	Uncompensated PPIS	0.00
	Relief Act Interest Shortfall	0.00
TOTAL AVAILABLE INTEREST		805,288.44

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Page 7 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Delinquency Information



	1 Month			2 Months			3+ Months			Totals
Delinquency
Scheduled Principal Balance		596,911.25			0.00			0.00			596,911.25
Percentage of Total Pool Balance		0.3698	%		0.0000	%		0.0000	%		0.3698	%
Number of Loans		1			0			0			1
Percentage of Total Loans		0.3759	%		0.0000	%		0.0000	%		0.3759	%
Bankruptcy
Scheduled Principal Balance		0.00			0.00			0.00			0.00
Percentage of Total Pool Balance		0.0000	%		0.0000	%		0.0000	%		0.0000	%
Number of Loans		0			0			0			0
Percentage of Total Loans		0.0000	%		0.0000	%		0.0000	%		0.0000	%
Foreclosure
Scheduled Principal Balance		0.00			0.00			0.00			0.00
Percentage of Total Pool Balance		0.0000	%		0.0000	%		0.0000	%		0.0000	%
Number of Loans		0			0			0			0
Percentage of Total Loans		0.0000	%		0.0000	%		0.0000	%		0.0000	%
REO
Scheduled Principal Balance		0.00			0.00			0.00			0.00
Percentage of Total Pool Balance		0.0000	%		0.0000	%		0.0000	%		0.0000	%
Number of Loans		0			0			0			0
Percentage of Total Loans		0.0000	%		0.0000	%		0.0000	%		0.0000	%
Total
Scheduled Principal Balance		596,911.25			0.00			0.00			596,911.25
Percentage of Total Pool Balance		0.3698	%		0.0000	%		0.0000	%		0.3698	%
Number of Loans		1			0			0			1
Percentage of Total Loans		0.3759	%		0.0000	%		0.0000	%		0.3759	%

Principal and Interest Advances		516,086.41

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Page 8 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Historical Delinquency Information


Distribution Date	1 Month		2 Month		3 + Month		Bankruptcy		Foreclosure		REO		Total ( 2+, BK, FC & REO )
	Balance	Cnt	Balance	Cnt	Balance	Cnt	Balance	Cnt	Balance	Cnt	Balance	Cnt	Balance	Cnt
08/20/2007	596,911.25	1	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0
	0.370%	0.4%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%
07/18/2007	477,360.91	1	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0
	0.295%	0.4%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%
06/18/2007	1,578,787.02	3	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0
	0.964%	1.1%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%
05/18/2007	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0
	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%	0.000%	0.0%

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Page 9 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Standard Prepayment and Default Information


Payment Date	Wtd. Avg. Age (Months)	Current Collateral Balance	Scheduled Principal	Unscheduled Principal	Liquidation Principal	SMM	CPR	PSA	MDR	CDR	SDA
20-Aug-2007	0.00	161,412,589.67	147,812.31	513,964.33	0.00	0.317%	3.743%	0%	0.000%	0.000%	0%
18-Jul-2007	0.00	162,074,366.31	144,539.91	1,511,438.50	0.00	0.924%	10.541%	0%	0.000%	0.000%	0%
18-Jun-2007	0.00	163,730,344.72	144,796.23	258,279.59	0.00	0.157%	1.874%	0%	0.000%	0.000%	0%
18-May-2007	0.00	164,133,420.54	144,029.64	904,590.61	0.00	0.548%	6.383%	0%	0.000%	0.000%	0%

SMM	(Single Month Mortality) = Unscheduled Principal / (Beginning Balance - Scheduled Principal)	MDR	(Monthly Default Rate) = Beginning Balance of Liquidated Asset / Total Beginning Balance
CPR	(Constant Prepayment Rate) = 1 - ((1-SMM)^12)	CDR	(Conditional Default Rate) = 1 - ((1-MDR)^12)
PSA	(Public Securities Association) = CPR * (min(.2% * Age, 6%))	SDA	(Standard Default Assumption) = CDR * (min(.2% * Age, 6%))

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Page 10 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Waterfall Detail


*DISTRIBUTIONS*	Amount Distributed			Remaining Available Funds

Senior Interest Remittance Funds					805,288.44

Class A-1 Monthly Interest Distributable Amount		(201,842.70	)		603,445.74
Class A-2 Monthly Interest Distributable Amount		(236,296.55	)		367,149.19
Class A-3 Monthly Interest Distributable Amount		(179,498.36	)		187,650.83
Class A-4 Monthly Interest Distributable Amount		(7,855.70	)		179,795.13
Class A-5 Monthly Interest Distributable Amount		0.00			179,795.13
Class A-6 Monthly Interest Distributable Amount		0.00			179,795.13
Class R-I Monthly Interest Distributable Amount		0.00			179,795.13
Class R-II Monthly Interest Distributable Amount		0.00			179,795.13

Subordinate Interest Remittance Funds					179,795.13

Class B-1 Monthly Interest Distributable Amount		(37,244.80	)		142,550.33
Class B-2 Monthly Interest Distributable Amount		(4,502.12	)		138,048.21
Class B-3 Monthly Interest Distributable Amount		(2,864.98	)		135,183.23
Class B-4 Monthly Interest Distributable Amount		(1,637.13	)		133,546.10
Class B-5 Monthly Interest Distributable Amount		(1,637.13	)		131,908.97
Class B-6 Monthly Interest Distributable Amount		(1,227.86	)		130,681.11

Accrued Interest Accreted to Other Classes					130,681.11

Senior Principal Distribution Funds Including Accretion Amounts					792,457.75

Class A-1 Principal Amount Distributed		0.00			792,457.75
Class A-2 Principal Amount Distributed		(502,579.93	)		289,877.82
Class A-3 Principal Amount Distributed		(280,862.84	)		9,014.98
Class A-5 Principal Amount Distributed		0.00			9,014.98
Class A-6 Principal Amount Distributed		0.00			9,014.98
Class R-I Principal Amount Distributed		0.00			9,014.98
Class R-II Principal Amount Distributed		0.00			9,014.98

Reports Available at www.sf.citidirect.com

Page 11 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2



Subordinate Principal Distribution Funds			9,014.98

Class B-1 Principal Amount Distributed	(6,836.36	)	2,178.62
Class B-2 Principal Amount Distributed	(826.37	)	1,352.25
Class B-3 Principal Amount Distributed	(525.87	)	826.38
Class B-4 Principal Amount Distributed	(300.50	)	525.88
Class B-5 Principal Amount Distributed	(300.50	)	225.38
Class B-6 Principal Amount Distributed	(225.38	)	0.00

Remaining to the Holders of the Residual Certificates	0.00		0.00

Reports Available at www.sf.citidirect.com

Page 12 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-2

Other Information



Trigger Information

Has the Credit Support Depletion Date Been Reached?	No

Has the Class A5 Accretion Termination Date Been Reached?	No
Has the Class A6 Accretion Termination Date Been Reached?	No

Senior Percentage	93.901064%
Senior Prepayment Percentage	100.000000%

Bankruptcy Amount	50,000.00
Fraud Loss Amount	1,651,820.41
Special Hazard Amount	655,941.00

Expenses
Extraordinary Trust Fund Expenses	0.00

Reports Available at www.sf.citidirect.com

Page 13 of 13

PHHMC Series 2007-2 Trust 10-D