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

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs