Bloomberg | Goldman Sachs Will Sell Litton Loan Servicing to Ocwen for $264 Million

Goldman Sachs Will Sell Litton Loan Servicing to Ocwen for $264 Million

Goldman Sachs Group Inc. (GS) agreed to sell Litton Loan Servicing LP to Ocwen Financial Corp. (OCN) for $263.7 million in cash, ending the New York-based bank’s 3-1/2 year experiment in processing home-loan payments.

In addition to the cash payment, which may be adjusted at closing, Ocwen will pay about $337.4 million to retire some of Litton’s debt, according to a filing by West Palm Beach, Florida-based Ocwen. The sale of Litton comes two months after Goldman Sachs wrote down the value of the mortgage-servicing business by about $200 million.

“It really makes sense for them to sell it, and better for them to sell it sooner rather than later,” said David B. Hilder, a New York-based analyst at Susquehanna Financial Group LP who has a positive rating on Goldman Sachs. “They bought it at a time when the business was easier and it looked like there might be some insights to be gained in the mortgage market from having a servicer.”

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Comments
13 Responses to “Bloomberg | Goldman Sachs Will Sell Litton Loan Servicing to Ocwen for $264 Million”
  1. HELL NO - No More Bail-Outs (no more BO) says:

    I have documents that put LPS and Litton Loan Servicing working together.

    Only question I have right now is whether the signature of Litton Loan Servicing’s Debra Lyman (an in-house attorney) is REALLY her signature or if LPS signed for her. Recording was requested by LPS, recorded document to be returned to Litton. Now, who signed it REALLY?

    That document could be used to report Lyman to the TX state bar I suspect. Litigation was already in progress. A Proof of Claim was already submitted to the BK court by McCalla-Rhymer law firm indicating Litton was filing the claim on behalf of the Trustee for CWABS 2005-10.

    The month AFTER McCalla-Rhymer filed that POC, was when LPS and Litton Loan Servicing CREATED and RECORDED the document that attempts to ASSIGN the DEED and NOTE (using MERS!). They assigned it FROM a company not in existence DIRECTLY TO BNY Mellon as Trustee for CWABS 2005-10.

    In addition to this being a document generated in support of the litigation, this document is also self-serving on Litton’s part as the loan-level servicer that works for this CWABS REMIC Trustee they are attempting to ‘fix’ the assignment of this loan to.

  2. Maggie May says:

    SO THEY — USE JEWS TO HELP THEM!! Didnt know Jews did anything for jesuits!

    • l vent says:

      They use the Jews and put them in places of high position so when things go bad, the Jews get blamed. you can read it at the forbidden knowledge.com/hardtruth or aftermathnews.com. There are some you tube videos by the author Eric Jon Phelps who wrote the book: Vatican Assassins: Wounded in the House of My Friends that explain alot about what the Jesuits do. They hide behind the scenes of all of the disasters they create and use perps to carry out their evil deeds.

      • l vent says:

        You are right though, being the Jesuits manufactured the entire Holocaust it is hard to believe the Jews would do anything for the sick bastards. It is all about the money, power and greed. Notice Bernanke is a Jew and they have him at the head of the Federal Reserve. The Jesuits make it appear it is the Jews who own and control everything but that is very deceptive. It is really the SMOM/VATICAN/JESUITS. The Holy See of Vatican City who is as I understand it really the Black Pope (you tube search it). He supposedly is who runs the world through the White Pope and is at the top of the evil pyramid..

      • l vent says:

        Please do not mistake what I said about the manufacturing of the Holocaust I did not mean that it did not happen. I meant the Jesuits hid behind the scenes of the Holocaust and crafted it and funded it. Hitler and the Nazi’s were the creation of the Jesuits.

  3. Well just look at Goldman Sach’s legacy >>> most of your Sec of Treasury came from GS…
    When Paulson was running GS he was to be served subpenoas on Monday, but quit on Friday & a couple of weeks later Bush appointed him Sec of Treasury ??????????

    Now comes Geithner who was going to be charged with tax evasion, but when he was being appointed to Sec of Tres; he / IRS / Pres and all of the other crooks allowed for a trivial fine and now he rules the printing presses for crazy Bernanke [ a direc link to the Illuminati……[who want to see the US fail]

    Yes, it does seem as though it gets worse and worse for the country while the crooked banksters ]when caught for fraud] are allowed to pay a few million [one day’s credit card interest take] and back to fraud as usual.

    This is why the European cartel does not want to see people like Ron Paul, Donald Trump, Jessie Venturi, etc in any office because they are not scared to call a crook – a crook…………..

  4. yvonne says:

    Well. like I have been saying…Deutsch owns Ocwen and how many others including Ally/GMAC so what else is new? It is trying bigger and bigger and wants more power and control over the USA and its people…

  5. Jim Bethea says:

    Litton Loan & Ocwen are the top 2 of the most fraudulent “alleged servicers” in the business. They both seem to enjoy harassing and manipulating their customers. MBNA credit card bank [largest in the world at one time] – sold out once they knew their many years of fraudulent extortion & illegal Arbitration schemes were beginning to be exposed nation wide…………….This buy out scam is a brilliant way to transfer the legal [civil & criminal] liabilities to an under “one roof” stadegy…………..I will be glad to see all of these crooked cartels abolished…………….

    • l vent says:

      That is because they are in reality foreign owned and operated Multinational institutions. They hate our freedom, our U.S. Constitution and our U.S. Bill of Rights. They want no Sovereign Nations. They are A/K/A the ruling eite, the head of the beast is THE SMOM/VATICAN/JESUITS who are the owners of Goldman Sachs/Wall Street/Fannie and Freddie and the entire Federal structure. They assume many AMERICAN identities to carry out their weapons of mass financial destruction. DEATH TO THE U.N./NEW WORLD ORDER/ FOREIGN MUTINATIONAL FASCIST TYRANNY!!!!!!!!!!!!

  6. noel poe says:

    wait, Ocwen is based in WPB? Why aren’t we there like every week?

  7. Maggie May says:

    YEA

  8. TheHutMaster says:

    Oh Great….. 2 Criminal Scum Bags become one GIANT Criminal Scum Bag…
    OCWEN are the most pompus scumbags on the planet.

    “Fight The Good Fight”

  9. Pamela says:

    So we go from bad to worse an the fraud just keeps rolling on like a bad wagon train.All these banks and loan servicers just need to be dropped like a hot potato.It just gets worse and worse the longer it goes on and they are just postponing the inevitable.I don’t understand why you put off to tomorrow what you can get rid of today mentality.

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