Battle Among Special Servicers Intensifies As Ocwen to Buy Homeward Residential
October 12, 2012
With the planned acquisition of Homeward Residential, Ocwen Financial fired the latest shot as nonbank special servicers compete to grow their portfolios. While officials at Ocwen noted the synergistic benefits of the planned purchase, industry analysts warned that the move puts Ocwen in a shaky financial position. The company announced last week that it plans to acquire Homeward for $588 million in cash and $162 million in Ocwen stock. The acquisition will strengthen Ocwens position as the largest ...