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Ocwen Adds $2.4 Billion to Portfolio.(Brief Article)
Ocwen Financial Corp. has purchased $2.4 billion in servicing rights from two companies in recent deals, bringing its servicing portfolio to almost $14 billion.
Ocwen first acquired $1.3 billion in servicing rights in high loan-to-value loans from Empire Funding Corp., Austin, Texas. The loans numbered a total of approximately 43,000. Within two weeks, Ocwen purchased $1.1 billion in HLTV and Title One mortgages from City National Bank of West Virginia, Charleston. In this transaction, approximately 40,000 loans were transferred. ...
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Source: HighBeam Research, Ocwen Adds $2.4 Billion to Portfolio.(Brief Article)