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Ocwen Financial (OCN +2.2%) reportedly wins the bidding for ResCap's mortgage servicing assets,...

Ocwen Financial (OCN +2.2%) reportedly wins the bidding for ResCap's mortgage servicing assets, bidding $3B vs. Nationstar's (NSM -14%) $2.3B. Walter Investment (WAC +5.3%), presumably a partner of Ocwen in the deal, also flies higher. A breakeven price had been assumed to be in the $2.7B area. Has Ocwen overpaid?
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  • 166649
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    Analyst believes believes positive for OCN as it can still make money with a $3 bln price tag; positive for WAC;

     

    believes PHH the big winner; NSM loses in the deal
    24 Oct 2012, 01:11 PM Reply Like
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