Ocwen Sells $45 Billion Of Fannie MSR’s To JPMorgan After Regulatory Sanction
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Ocwen sells $45 billion in MSRs.
Ocwen Financial is selling $45 billion in mortgage servicing rights (MSRs) on loans originated by Fannie Mae to JPMorgan Chase JPM +0.81%, a move that continues to trim the embattled mortgage servicing giant’s presence in the agency mortgage market. The move adds to Ocwen’s string of MSR sales as it responds to government sanctions and investor scrutiny.
The $45 billion in MSR’s Ocwen is selling consist of 266,000 legacy Fannie Mae loans. This year, Ocwen’s sold a total of $34.8 billion in MSR’s on Fannie Mae andFreddie Mac loans to competitor Nationstar Mortgage Holdings in two separate deals as it stops servicing legacy agency loans.* “This sale to Chase furthers Ocwen’s corporate strategy of reducing the size of the company’s Agency servicing portfolio,” Ocwen said of the sale…
Ocwen Sells $45 Billion Of Fannie MSR’s To JPMorgan After Regulatory Sanction
