NY regulator freezes Ocwen-Wells Fargo $2.7B MSR deal

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NY Regulator to Halt Ocwen-Wells Fargo Mortgage-Servicing Deal Shayndi Raice broke the news that a New York state regulator had halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo & Co., citing people familiar with the matter.

The New York Department of Financial Services has requested that Ocwen Financial Corporation indefinitely suspend its previously announced purchase of a mortgage servicing rights portfolio with an unpaid principal balance (UPB) of $39 billion from Wells Fargo Bank, N.A. However, this announcement will not affect Ocwen’s current corporate and servicer ratings, according to Fitch Ratings.

Ocwen Financial Corp., the nation’s largest non-bank, non-government mortgage servicer, is losing the mortgage servicing rights in two bond deals, according to a report from Bloomberg on Thursday.

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NY Regulator to Halt Ocwen-Wells Fargo Mortgage-Servicing . Dowjones.com Shayndi Raice broke the news that a New York state regulator had halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo Co. citing people familiar with the matter.

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A New York state regulator has halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo & Co.

The superintendent of New York’s Department of Financial Services is reportedly putting an indefinite freeze on the $2.7 billion MSR deal between Ocwen Financial Corp. (OCN) and Wells Fargo (WFC).

NY Regulator Stops Ocwen-Wells Fargo Deal thenewstribune.com | February 10, 2014 New York’s top bank regulator has indefinitely halted Ocwen Financial Corp.’s purchase of the right to collect payments on a portfolio of mortgages from Wells Fargo & Co., a person familiar with the.

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