Ocwen +2% after acquiring MSRs from Wells Fargo


Ocwen Financial (OCN) lands residential mortgage servicing rights from Wells Fargo (WFC) on about 184K loans with a total principal balance of $39B. The sale will be finalized as servicing is transferred, which is all expected to occur this year.

For Wells, the sale amounts to about 2% of the bank's total residential servicing portfolio and won't be material to results.

Ocwen +2.2% premarket

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