Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit

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Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit

Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit

REUTERS-

Ocwen Financial Corp (OCN.N) said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp (WAC.N).

The deal is the latest in a series of steps by Ocwen to slim down its operations amid regulatory scrutiny over its business practices.

Ocwen, which delayed filing its full-year results, also said it was reviewing the ability of its affiliate, Home Loan Servicing Solutions Ltd (HLSS.O), to meet obligations to fund new servicing advances.

[REUTERS]

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