Ocwen finalizes acquisition of Homeward Residential

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Ocwen finalizes acquisition of Homeward Residential

Ocwen finalizes acquisition of Homeward Residential

One down and ResCap still to go


HW-

Mortgage servicer Ocwen Financial Corp. ($33.63 0%) has finalized its acquisition of Homeward Residential Holdings Inc., a company organized by private equity firm WL Ross & Co. in 2007.

In a securities filing, Ocwen said it paid $243 million plus the book value amount of Homeward and its subsidiaries, making the aggregate purchase amount reach $766 million. About $604 million was paid in cash, Ocwen said in a securities filing. Another $162 million was paid in preferred stock.

[HOUSING WIRE]

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One Response to “Ocwen finalizes acquisition of Homeward Residential”

  1. Marcie Jacobs says:

    This is depressing. Ocwen foreclosed on us and used forgeries to transfer our property to Freddie Mac for $10.

    http://www.jacobsforeclosurefraud.com

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