Ocwen to Sell $45 Billion in Mortgage Servicing Rights to Chase

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Ocwen to Sell $45 Billion in Mortgage Servicing Rights to Chase

Ocwen Financial Corp. will sell mortgage servicing rights for 266,000 Fannie Mae loans worth $45 billion to Chase.

“Buying this prime servicing book will improve the quality of our servicing portfolio and will help drive a stronger and less volatile mortgage business,” said Chase Mortgage Banking CEO Kevin Watters. “We expect the portfolio, in addition to lower delinquency rates overall, will help improve the value of our business.”

In March, Atlanta-based Ocwen (NYSE: OCN) reported its plans to sell the portfolio and that it sold another $25 billion portfolio to Nationstar.

More here…

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Comments
2 Responses to “Ocwen to Sell $45 Billion in Mortgage Servicing Rights to Chase”
  1. Ocwen has been making a landslide obscene profits from purchasing the bankruptcy files from GMAC with a windfall of only paying pennies to the dollar and then continue to try those many times paid off mortgages (insurance, etc) in the courts where the foreclosures were originally filed…ponder this carefully…fight your case…walking away secures their fraudulent behaviour and establishes a standard…

  2. Mable Morgan says:

    Please ineed your help
    I picked up a judgment on my then filed 13 the paralegal who is also a realtor did my modification.submitted wrong salary amt.my modification was denied she didn’t even allowed the lawyer to tell she started to advise to do a short sale this my home i am almos 60yrs. That firm is a theif they alre legal picp pocket under the name. Of law

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