Ocwen Financial Corp.’s servicing subsidiary picked up a servicing portfolio of more than $4 billion.
In a Securities and Exchange filing yesterday, the West Palm Beach, Fla.-based firm said subsidiary Ocwen Loan Servicing LLC entered a master servicing agreement with Freddie Mac.
The deal calls for Ocwen to provide mortgage servicing on around 24,000 non-performing single-family mortgages for $4.4 billion owned by Freddie Mac.
Ocwen’s servicing portfolio stood at $41.8 billion as of Sept. 30, 2008.
