Ocwen Rallies After Announcing Major MSR Sale To Nationstar
Ocwen stocks are up after announcing the sale of $9.8 billion in mortgage servicing rights, but some analysts worry about how this will affect Ocwen’s non-agency business
Ocwen has announced that it’s selling $9.8 billion in residential mortgage servicing rights to Nationstar Mortgage and that it expects the deal to close by the end of March, pushing its stock price up more than 4% in trading (Nationstar is up 7.8%). Despite the initial rally, some analysts worry that this could be the sign . . .
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