Ocwen: Wells Fargo MSR deal on indefinite hold

Ocwen: Wells Fargo MSR deal on indefinite hold

As per the terms of agreement, Ocwen was to buy residential mortgage-servicing rights (MSRs) on 1,84,000 loans with total principal balance of about $39 billion from Wells Fargo.

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The New York regulator who put a hold on Ocwen’s latest mortgage servicing rights (MSR) deal with Wells Fargo expressed on Wednesday his concerns about the rapid growth of non-bank servicers in.

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ATLANTA, Feb. 6, 2014 (globe newswire) — Ocwen Financial Corporation ("Ocwen") (NYSE:OCN), a leading financial services holding company, announced that, at the request of the New York Department of Financial Services ("NY DFS"), its mortgage servicing arm has agreed to put an indefinite hold on its previously announced purchase from Wells Fargo Bank, N.A. of mortgage servicing rights on a.

New York’s Department of Financial Services superintendent Benjamin Lawsky is clearly intent on making a name for himself – bringing action to put the brakes on Ocwen Financial Corp. (OCN) and Wells.

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Ocwen Financial won’t buy the rights to service $39 billion in mortgages for Wells Fargo, the companies said, officially terminating a deal that had been put on hold by New York’s financial.

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Recently, Ocwen stock took a hit after Congresswoman Maxine Waters called for more regulatory scrutiny of firms such as this one. The superintendent of New York’s Department of Financial Services also put an indefinite freeze on the $2.7 billion MSR deal between Ocwen and Wells Fargo (WFC). Back to February 2014 Archive

Ocwen-Wells Fargo Deal on Hold – Analyst Blog. February 07, Ocwen was to buy residential mortgage-servicing rights (MSRs) on 1,84,000 loans with total principal balance of about $39 billion.

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. Rank #3 (Hold). BANK OF.

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The long-delayed $2.7 billion mortgage servicing rights deal between Ocwen Financial (OCN) and Wells Fargo (WFC) is now dead, the companies announced late Thursday. According to a filing with the.

Early in 2014, Wells Fargo agreed to sell $39 billion worth of mortgage servicing rights to Ocwen. In February 2014, that transaction was put on hold indefinitely by the head of the New York DFS.

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