Ocwen Acquires $7 Billion Portfolio
Acquisition done on March 29
April 6, 2010
By MortgageDaily.com staff
A nearly $7 billion servicing portfolio was picked up by Ocwen Loan Servicing LLC.
Parent Ocwen Financial Corp. disclosed the acquisition in a filing yesterday with the Securities and Exchange Commission.
According to the filing, the West Palm Beach, Fla.-based servicer closed on the purchase on March 29.
The acquisition included 38,000 mortgages for $6.9 billion.
As of Feb. 28, Ocwen’s servicing portfolio was $48.6 billion.