Ocwen finalizes deal to sell $110B of MSRs to New Residential

Ocwen Financial Corp (NYSE:OCN)’s stock price crossed above its 50-day moving average during trading on Monday . Ocwen Financial shares last traded at $1.69, with a volume of 15,769 shares trading hands. Separately, ValuEngine lowered Ocwen Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, May 1st.

Ocwen finalizes deal to sell $110B of MSRs to New Residential Ocwen Financial Corporation (OCN) – Beginning on January 28, 2014, Ocwen Financial Corporation ("Ocwen") will be using the materials. estimates due to the completion of our financial closing procedures, final adjustments and other.

I mention this because, while one might argue that Ocwen got a relatively good deal on these MSRs (specifically because ResCap was in Chapter 11 and pressured to sell), one might also argue that.

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According to Ocwen, the company is nearing a new deal with New Residential that would "further solidify and enhance the business relationship" between the two companies. Under the terms of the agreement, New Residential would buy approximately $117 billion in mortgage servicing rights from Ocwen.

Continuing with its retreat from the mortgage servicing industry, Wells Fargo & Co. (WFC) decided to proceed with the sell-off of residential mortgage-servicing rights (MSRs) on 1,84,000 loans.

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 · Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million. As part of the transaction, Ocwen sold 6.1 million shares of its common stock, approximately 4.9%, at $2.29 per share, or $13.9 million in proceeds.

Ocwen’s $150M Settlement: A Clean Slate or a New Burden?. halted Ocwen’s deal to buy residential mortgage-servicing rights. Ocwen holds a Zacks Rank #5 (Strong Sell).

Ocwen finalizes deal to sell $110B of MSRs to New Residential Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.

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Ocwen to buy ally bank’s MSRs – Analyst Blog. The stake buyout is estimated to be worth $585 million. The deal is subject to the approval of both Fannie Mae and Freddie Mac, according to Ally Financial. As per the terms of the deal, the sale comprises MSRs pertaining to mortgage loans with an unpaid principal balance of $85 billion as of Jan 31,