EXHIBIT 15


May 9, 2002

Cendant Corporation
9 West 57th Street
New York, NY 10019

We have made a review, in accordance with standards established by the
American Institute of Certified Public Accountants, of the unaudited interim
financial information of Cendant Corporation and subsidiaries for the periods
ended March 31, 2002 and 2001, as indicated in our report dated May 9, 2002;
because we did not perform an audit, we expressed no opinion on that
information.

We are aware that our report referred to above, which is included in your
Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, is
incorporated by reference in Cendant Corporation's Registration Statement
Nos. 333-11035, 333-17323, 333-17411, 333-20391, 333-23063, 333-26927,
333-35707, 333-35709, 333-45155, 333-45227, 333-49405, 333-78447, 333-86469,
333-51586, 333-59246, 333-65578, 333-65456, 333-65858, 333-83334, 333-84626
on Form S-3 and Registration Statement Nos. 33-74066, 33-91658, 333-00475,
333-03237, 33-58896, 33-91656, 333-03241, 33-26875, 33-75682, 33-93322,
33-93372, 33-75684, 33-80834, 33-74068, 33-41823, 33-48175, 333-09633,
333-09655, 333-09637, 333-22003, 333-30649, 333-42503, 333-34517-2,
333-42549, 333-45183, 333-47537, 333-69505, 333-75303, 333-78475, 333-51544,
333-38638, 333-64738, 333-71250 and 333-58670 on Form S-8.

We also are aware that the aforementioned report, pursuant to Rule 436(c)
under the Securities Act of 1933, is not considered a part of the
Registration Statements prepared or certified by an accountant or a report
prepared or certified by an accountant within the meaning of Sections 7 and
11 of that Act.

/s/ Deloitte & Touche LLP
New York, New York






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