twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

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

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

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

Press Releases
Reports and announcements from

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









site map
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.

OneWest Selling Big Chunk of Servicing Portfolio

Deal reached to sell MSRs

June 14, 2013

By Mortgage Daily staff

The banking subsidiary of OneWest Bank Group LLC has reached an agreement to sell a substantial portion of its mortgage servicing portfolio.

OneWest Bank FSB was created from the remnants of IndyMac Bank FSB, which was closed by the Office of Thrift Supervision in July 2008.

Before its failure, IndyMac serviced $153 billion in home loans. OneWest's servicing division, IndyMac Mortgage Services, had a servicing portfolio of $102 billion as of June 30, 2012.

OneWest's servicing portfolio is about to shrink more as a result of a planned sale of mortgage servicing rights.

The buyer, Ocwen Financial Corp., disclosed the sale in a filing with the Securities and Exchange Commission.

Ocwen Loan Servicing LLC has reached an agreement to acquire MSRs from OneWest on $78 billion in residential loans. The total was as of April 30.

Ocwen will pay around $2.1 billion for the MSRs.

Ocwen already serviced $469 billion as of March 31, making it the fourth-largest U.S. servicer.

Aside from servicing advance receivables, the deal doesn't involve any operations or other assets.

Ocwen plans to fund the transaction with cash on hand, cash generated through operations and credit.

The deal is subject to consents from investors and third parties and other customary conditions. A $50 million termination fee applies to both parties.

Ocwen expects to complete the transaction in stages throughout this second half of this year.

OneWest Bank profile | Ocwen profile

next story

back to current headlines

Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.

Bank news

Logout forgot

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


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