Mortgagors, BEWARE! Ocwen Set to Buy $15 Billion in MSRs from JPMorgan

Categorized | STOP FORECLOSURE FRAUD

Mortgagors, BEWARE! Ocwen Set to Buy $15 Billion in MSRs from JPMorgan

Mortgagors, BEWARE! Ocwen Set to Buy $15 Billion in MSRs from JPMorgan

Something strange is going on here and it looks like a complete set up… Don’t ask me why it just seems like risky business.

Wanna Bet?

The M Report-

JPMorgan Chase & Co. has a buyer for $15 billion in mortgage servicing rights from the financial institution, with the announcement that Ocwen Financial Corp. would purchase the bank’s MSRs for a rumored $950 million. Ocwen’s acquisition follows the company’s decision to raise $375 million in new equity through offering 25 million shares of public common stock.

The equity transaction is set to close on November 16, prior to the finalization of the MSR deal with JPMorgan, and Ocwen’s public common stock will be priced at $13 per unit. The company has previously stated that it intended to use proceeds from the sale to purchase JPMorgan’s MSRs, and that acquisition will close on January 1, 2012.

[THE M REPORT]

© 2010-13 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
www.StopForeclosureFraud.com


DONATE

Comments

comments

Related posts:

  1. Goldman to Sell Litton Loan Servicing to Ocwen Financial for $264 Million Just recently it was announced that the NY Fed is...
  2. BLOOMBERG | JPMorgan Borrowed at Least $5.9 Billion From Fed Discount Window JPMorgan Chase & Co. (JPM), the second- largest U.S. bank...
  3. WSJ | Ocwen Financial Discloses FTC Probe MARCH 3, 2011, 5:09 P.M. ET By RUTH SIMON Ocwen...
  4. Indiana Appeals Court Reverses Judgment “No Summons, Ocwen Instigates Foreclosure, Chase Satisfies Mortgage” ELLIOT v. JPMORGAN CHASE MARILYN L. ELLIOTT and MICHAEL S. ELLIOTT, vs. JPMORGAN CHASE...
  5. Ocwen Leads Mortgage Servicers in Converting Federal HAMP Trial Loan Modifications to Permanent Status May 18, 2010, 1:01 p.m. EDT 83% of Ocwen’s Trial...

This post was written by:

- who has written 6841 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

2 Responses to “Mortgagors, BEWARE! Ocwen Set to Buy $15 Billion in MSRs from JPMorgan”

  1. PaulR says:

    My guess is that they have it on good authority that they will be bailed out, by our wonderful government, for the piece they are buying if it goes bad. These MSRs are simply too toxic right now to have fetched that kind of a price tag.

    I agree — this smells rotten.

    PaulR

  2. Bryan says:

    Smells like shit, looks like shit, sounds like shit, Ocwen is shit.

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Chip Parker, www.jaxlawcenter.com
RR Compliance Consulting Inc was established to provide training and support services to the Loss Mitigation Consulting Community.  There is a huge void in the market for this training since those who are truly practicing in the field have neither the time nor interest in providing this training.
Jamie Ranney, www.NantucketLaw.pro
Advertise your business on StopForeclosureFraud.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com
Damian Figueroa, South Florida Realtor, Real Estate Agent
Susan Chana Lask, www.appellate-brief.com

Archives