WSJ: NY regulator to halt Ocwen-Wells Fargo Deal

Ocwen Financial (OCN -9.5%) sinks after WSJ reports New York financial services superintendent Ben Lawsky has halted indefinitely the $2.7B deal to purchase mortgage servicing rights from Wells Fargo (WFC +0.2%) due to concerns over Ocwen's ability to handle more loans.

The deal, announced last month, would have given OCN the right to service ~$39B worth of loans.

Other mortgages servicers are dropping too: NSM -3.9%, WAC -3.6%.

From other sites
Comments (1)
  • Matthew Mazurczak
    , contributor
    Comments (1477) | Send Message
    Analysts have already upgraded OCN as a result of the move. There is no indication OCN does not have the capacity to service the loans. Strong buy here.
    6 Feb 2014, 09:51 PM Reply Like
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