twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Acquisition Creates New No. 6 Servicer

Ocwen completes acquisition of Homeward Residential

Dec. 31, 2012

By Mortgage Daily staff


An acquisition completed last week by Ocwen Financial Corp. makes the company the sixth-largest mortgage servicer in the country. Another acquisition expected to complete early next year will move the residential servicer up one more notch.

Ocwen-subsidiary O&H Acquisition Corp. completed its acquisition of Homeward Residential Holdings Inc. from WL Ross & Co. LLC on Dec. 27.

The deal was originally announced in October.

Ocwen spent around $766 million for the acquisition, including $604 million paid in cash and $162 million paid in the form of preferred stock.

An escrow account has been established for $85 of the proceeds to cover loss-sharing payments and certain other indemnification payments that may become owed to Ocwen. Representative expenses will also be pulled from the escrow account, which will be kept open for 21 months.

Completion of the transaction was disclosed in a FORM 8-K filing Friday with the Securities and Exchange Commission.

As of Sept. 30, Ocwen serviced $127.067 billion, according to earnings data. The Homeward acquisition was expected to increase the total by $77 billion.

The resulting total servicing portfolio of approximately $204.1 billion has made Ocwen the nation's No. 6 residential servicer, just behind US Bancorp, which serviced $270.3 billion as of Sept. 30.

In addition, a joint bid by Ocwen Loan Servicing LLC and Walter Investment Management Corp. is expected to increase Ocwen's servicing portfolio by another $126.6 billion and thrust the Atlanta-based company into the No. 5 position.


Related:
ResCap Asset Sale Approved
A deal hammered out last month for bankrupt Residential Capital LLC to unload production and servicing assets has been approved by the bankruptcy court.

Ocwen Wins Bid to Become No. 5 U.S. Servicer
With its winning bid to acquire the mortgage servicing portfolio of Residential Capital LLC, Ocwen Loan Servicing LLC is on its way to becoming the fifth-biggest residential mortgage servicer in the nation.

Battle for No. 6 Servicer Heats Up
With Ocwen Financial Corp.'s proposed acquisition of Homeward Residential Holdings Inc., three mortgage servicers will be battling for the title of sixth-biggest servicer. The proposed transaction will also put Ocwen in the loan origination business.

Ocwen profile | Homeward Residential profile

next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.



Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders