Morgan Stanley (MS) agrees to sell Saxon Mortgage, a mortgage servicer it bought in 2006, to...


Morgan Stanley (MS) agrees to sell Saxon Mortgage, a mortgage servicer it bought in 2006, to Ocwen Financial (OCN) for the base purchase price of $59M plus an estimated $1.4B for servicing advance receivables outstanding. Ocwen beat out Fortress Investment Group’s Nationstar Mortgage in a bidding process.

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