Suddenly, the Sale of Ocwen’s Agency Servicing Portfolio Looks in Doubt; Ramifications for the M&A Market?
January 15, 2015
Ocwen’s plan to sell roughly $182 billion of agency servicing rights may have gone up in smoke this week after it was revealed that the California Department of Business Oversight could pull its mortgage licenses in the state. One servicing advisor, requesting anonymity, said the nonbank’s latest run-in with regulators “effectively put an illiquid label on all of their servicing rights.” Another advisor suggested...