Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3


*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	7

Delinquency Information	8

Standard Prepayment and Default Information	10

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 2007-3

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	59,128,219.00	59,128,219.00	5.105983%	30 / 360	07/01 - 07/31	251,589.71	0.00	251,589.71	0.00	0.00	59,128,219.00
A3	72,525,034.00	70,511,391.36	5.955983%	30 / 360	07/01 - 07/31	349,970.52	240,897.91	590,868.43	0.00	0.00	70,270,493.45
A4	19,266,244.00	19,458,005.07	5.955983%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	96,576.28	0.00	19,554,581.35
RI	100.00	0.00	5.955983%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	0.00	0.00	0.00
RII	100.00	0.00	5.955983%	30 / 360	07/01 - 07/31	0.00	0.00	0.00	0.00	0.00	0.00
B1	7,064,326.00	7,052,271.11	5.955983%	30 / 360	07/01 - 07/31	35,002.67	6,317.15	41,319.82	0.00	0.00	7,045,953.96
B2	1,043,594.00	1,041,813.17	5.955983%	30 / 360	07/01 - 07/31	5,170.85	933.21	6,104.06	0.00	0.00	1,040,879.96
B3	561,935.00	560,976.09	5.955983%	30 / 360	07/01 - 07/31	2,784.30	502.50	3,286.80	0.00	0.00	560,473.59
B4	401,382.00	400,697.06	5.955983%	30 / 360	07/01 - 07/31	1,988.79	358.93	2,347.72	0.00	0.00	400,338.13
B5	240,829.00	240,418.04	5.955983%	30 / 360	07/01 - 07/31	1,193.27	215.36	1,408.63	0.00	0.00	240,202.68
B6	321,107.20	320,559.25	5.955983%	30 / 360	07/01 - 07/31	1,591.04	287.14	1,878.18	0.00	0.00	320,272.11
Totals	160,552,870.20	158,714,350.15				649,291.15	249,512.20	898,803.35	96,576.28	0.00	158,561,414.23
Notional Classes
A2	59,128,219.00	59,128,219.00	0.850000%	30 / 360	07/01 - 07/31	41,882.49	0.00	41,882.49	0.00	0.00	59,128,219.00

Reports Available at www.sf.citidirect.com

Page 2 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

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	69337NAA6	07/31/2007	1,000.000000	4.254985	0.000000	4.254985	0.000000	0.000000	1,000.000000
A3	69337NAC2	07/31/2007	972.235206	4.825513	3.321583	8.147096	0.000000	0.000000	968.913623
A4	69337NAG3	07/31/2007	1,009.953215	0.000000	0.000000	0.000000	5.012720	0.000000	1,014.965935
RI	69337NAD0	07/31/2007	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
RII	69337NAE6	07/31/2007	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
B1	69337NAH1	07/31/2007	998.293554	4.954849	0.894233	5.849082	0.000000	0.000000	997.399322
B2	69337NAJ7	07/31/2007	998.293561	4.954848	0.894227	5.849075	0.000000	0.000000	997.399333
B3	69337NAF5	07/31/2007	998.293557	4.954844	0.894232	5.849075	0.000000	0.000000	997.399326
B4	69337NAK4	07/31/2007	998.293546	4.954856	0.894235	5.849091	0.000000	0.000000	997.399310
B5	69337NAL2	07/31/2007	998.293561	4.954843	0.894244	5.849088	0.000000	0.000000	997.399317
B6	69337NAM0	07/31/2007	998.293561	4.954856	0.894219	5.849075	0.000000	0.000000	997.399342
A2	69337NAB4	07/31/2007	1,000.000000	0.708333	0.000000	0.708333	0.000000	0.000000	1,000.000000

Reports Available at www.sf.citidirect.com

Page 3 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

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	59,128,219.00	5.10598%	5.10599%	30 / 360	251,589.71	0.00	0.00	0.00	251,589.71	0.00	251,589.71	0.00
A3	70,511,391.36	5.95598%	5.95599%	30 / 360	349,970.52	0.00	0.00	0.00	349,970.52	0.00	349,970.52	0.00
A4	19,458,005.07	5.95598%	5.95599%	30 / 360	96,576.28	0.00	0.00	0.00	96,576.28	96,576.28	0.00	0.00
RI	0.00	5.95598%	5.95599%	30 / 360	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RII	0.00	5.95598%	5.95599%	30 / 360	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
B1	7,052,271.11	5.95598%	5.95599%	30 / 360	35,002.67	0.00	0.00	0.00	35,002.67	0.00	35,002.67	0.00
B2	1,041,813.17	5.95598%	5.95599%	30 / 360	5,170.85	0.00	0.00	0.00	5,170.85	0.00	5,170.85	0.00
B3	560,976.09	5.95598%	5.95599%	30 / 360	2,784.30	0.00	0.00	0.00	2,784.30	0.00	2,784.30	0.00
B4	400,697.06	5.95598%	5.95599%	30 / 360	1,988.79	0.00	0.00	0.00	1,988.79	0.00	1,988.79	0.00
B5	240,418.04	5.95598%	5.95599%	30 / 360	1,193.27	0.00	0.00	0.00	1,193.27	0.00	1,193.27	0.00
B6	320,559.25	5.95598%	5.95599%	30 / 360	1,591.04	0.00	0.00	0.00	1,591.04	0.00	1,591.04	0.00
Totals	158,714,350.15				745,867.43	0.00	0.00	0.00	745,867.43	96,576.28	649,291.15	0.00
Notional Classes
A2	59,128,219.00	0.85000%	0.85000%	30 / 360	41,882.49	0.00	0.00	0.00	41,882.49	0.00	41,882.49	0.00

Reports Available at www.sf.citidirect.com

Page 4 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

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	59,128,219.00	59,128,219.00	0.00	0.00	0.00	0.00	0.00	59,128,219.00	0.00	36.83%	37.29%	6.00%	6.06%
A3	72,525,034.00	70,511,391.36	133,555.79	107,342.12	0.00	0.00	0.00	70,270,493.45	0.00	45.17%	44.32%	6.00%	6.06%
A4	19,266,244.00	19,458,005.07	0.00	0.00	96,576.28	0.00	0.00	19,554,581.35	0.00	12.00%	12.33%	6.00%	6.06%
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	7,064,326.00	7,052,271.11	6,317.15	0.00	0.00	0.00	0.00	7,045,953.96	0.00	4.40%	4.44%	1.60%	1.62%
B2	1,043,594.00	1,041,813.17	933.21	0.00	0.00	0.00	0.00	1,040,879.96	0.00	0.65%	0.66%	0.95%	0.96%
B3	561,935.00	560,976.09	502.50	0.00	0.00	0.00	0.00	560,473.59	0.00	0.35%	0.35%	0.60%	0.61%
B4	401,382.00	400,697.06	358.93	0.00	0.00	0.00	0.00	400,338.13	0.00	0.25%	0.25%	0.35%	0.35%
B5	240,829.00	240,418.04	215.36	0.00	0.00	0.00	0.00	240,202.68	0.00	0.15%	0.15%	0.20%	0.20%
B6	321,107.20	320,559.25	287.14	0.00	0.00	0.00	0.00	320,272.11	0.00	0.20%	0.20%	0.00%	0.00%
Totals	160,552,870.20	158,714,350.15	142,170.08	107,342.12	96,576.28	0.00	0.00	158,561,414.23	0.00	100%	100%

Reports Available at www.sf.citidirect.com

Page 5 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

Reconciliation Detail


*SOURCE OF FUNDS*
Interest Funds Available
Scheduled Interest	822,468.75
Uncompensated PPIS	0.00
Relief Act Interest Shortfall	0.00
Interest Adjustments	0.00
Total Interest Funds Available:		822,468.75
Principal Funds Available
Scheduled Principal	142,170.08
Curtailments	10,765.84
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:		152,935.92
Total Funds Available		975,404.67


*ALLOCATION OF FUNDS*
Scheduled Fees
Servicing Fee	33,065.48
Trustee Fee	1,653.35
Total Scheduled Fees:		34,718.83
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	691,173.64
Principal Distribution	249,512.20
Total Distribution to Certificateholders:		940,685.84
Total Funds Allocated		975,404.67

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Page 6 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

Collateral Summary


*ASSET CHARACTERISTICS*

	Cut-Off			Prior			Current

Aggregate Stated Principal Balance		160,552,870.20			158,714,350.15			158,561,414.23

Loan Count		243			243			243

Weighted Average Coupon Rate (WAC)		6.219831	%		6.218483	%		6.218939	%

Net Weighted Average Coupon Rate (Net WAC)		5.957331	%		5.955983	%		5.956312	%

Weighted Average Remaining Term (WART in months)		355			353			352


*AVAILABLE PRINCIPAL*

Scheduled Principal	142,170.08
Curtailments	10,765.84
Principal Prepayments	0.00
Liquidation Proceeds	0.00
Repurchased Principal	0.00
Trailing Recoveries	0.00
TOTAL AVAILABLE PRINCIPAL	152,935.92

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


*AVAILABLE INTEREST*

Scheduled Interest		822,468.75

Less:	Servicing Fee	33,065.48
	Trustee Fee	1,653.35
	Uncompensated PPIS	0.00
	Relief Act Interest Shortfall	0.00
TOTAL AVAILABLE INTEREST		787,749.92

Reports Available at www.sf.citidirect.com

Page 7 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

Delinquency Information



	1 Month			2 Months			3+ Months			Totals
Delinquency
Scheduled Principal Balance		1,987,781.50			0.00			0.00			1,987,781.50
Percentage of Total Pool Balance		1.2536	%		0.0000	%		0.0000	%		1.2536	%
Number of Loans		2			0			0			2
Percentage of Total Loans		0.8230	%		0.0000	%		0.0000	%		0.8230	%
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		1,987,781.50			0.00			0.00			1,987,781.50
Percentage of Total Pool Balance		1.2536	%		0.0000	%		0.0000	%		1.2536	%
Number of Loans		2			0			0			2
Percentage of Total Loans		0.8230	%		0.0000	%		0.0000	%		0.8230	%

Principal and Interest Advances		494,867.94

Reports Available at www.sf.citidirect.com

Page 8 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

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	1,987,781.50	2	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0	0.00	0
	1.254%	0.8%	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	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%
06/18/2007	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%

Reports Available at www.sf.citidirect.com

Page 9 of 13

Distribution Date:

Determination Date:

08/20/2007

08/08/2007

PHHMC Mortgage Pass-Through Certificates

Series 2007-3

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	158,561,414.23	142,170.08	10,765.84	0.00	0.007%	0.081%	0%	0.000%	0.000%	0%
18-Jul-2007	0.00	158,714,350.15	137,413.43	1,539,995.34	0.00	0.961%	10.941%	0%	0.000%	0.000%	0%
18-Jun-2007	0.00	160,391,758.92	136,540.07	24,571.21	0.00	0.015%	0.184%	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 2007-3

Waterfall Detail


*DISTRIBUTIONS*	Amount Distributed			Remaining Available Funds

Senior Interest Remittance Funds					787,749.92

Class A-1 Monthly Interest Distributable Amount		(251,589.71	)		536,160.21
Class A-2 Monthly Interest Distributable Amount		(41,882.49	)		494,277.72
Class A-3 Monthly Interest Distributable Amount		(349,970.52	)		144,307.20
Class A-4 Monthly Interest Distributable Amount		0.00			144,307.20
Class R-I Monthly Interest Distributable Amount		0.00			144,307.20
Class R-II Monthly Interest Distributable Amount		0.00			144,307.20

Subordinate Interest Remittance Funds					144,307.20

Class B-1 Monthly Interest Distributable Amount		(35,002.67	)		109,304.53
Class B-2 Monthly Interest Distributable Amount		(5,170.85	)		104,133.68
Class B-3 Monthly Interest Distributable Amount		(2,784.30	)		101,349.38
Class B-4 Monthly Interest Distributable Amount		(1,988.79	)		99,360.59
Class B-5 Monthly Interest Distributable Amount		(1,193.27	)		98,167.32
Class B-6 Monthly Interest Distributable Amount		(1,591.04	)		96,576.28

Accrued Interest Accreted to Other Classes					96,576.28

Senior Principal Distribution Funds Including Accretion Amounts					249,512.20

Class A-1 Principal Amount Distributed		0.00			249,512.20
Class A-3 Principal Amount Distributed		(240,897.91	)		8,614.29
Class A-4 Principal Amount Distributed		0.00			8,614.29
Class R-I Principal Amount Distributed		0.00			8,614.29
Class R-II Principal Amount Distributed		0.00			8,614.29

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 2007-3



Subordinate Principal Distribution Funds			8,614.29

Class B-1 Principal Amount Distributed	(6,317.15	)		2,297.14
Class B-2 Principal Amount Distributed	(933.21	)		1,363.93
Class B-3 Principal Amount Distributed	(502.50	)		861.43
Class B-4 Principal Amount Distributed	(358.93	)		502.50
Class B-5 Principal Amount Distributed	(215.36	)		287.14
Class B-6 Principal Amount Distributed	(287.14	)		0.00

Remaining to the Holders of the Residual Certificates	0.00			0.00

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Page 12 of 13

Distribution Date: Determination Date:	08/20/2007 08/08/2007	PHHMC Mortgage Pass-Through Certificates Series 2007-3

Other Information



Trigger Information

Has the Credit Support Depletion Date Been Reached?	No

Has the Class A4 Accretion Termination Date Been Reached?	No

Senior Percentage	93.940854%
Senior Prepayment Percentage	100.000000%

Bankruptcy Amount	50,000.00
Fraud Loss Amount	1,605,528.70
Special Hazard Amount	931,207.00

Expenses
Extraordinary Trust Fund Expenses	0.00

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Page 13 of 13

PHHMC Series 2007-3 Trust 10-D