The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:** Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp. 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 Financial Corporation is a financial services holding company. Shares of OCN fell by 2.503% or $-0.225/share to $8.76. In the past year, the shares have traded as low as $5.66 and as high as $41.94. On average, 9517560 shares of OCN exchange hands on a given day and today's volume is recorded at 7734986.
Walter Investment Management Corp. together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry. Shares of WAC traded higher by 7.38% or $1.15/share to $16.73. In the past year, the shares have traded as low as $14.16 and as high as $31.02. On average, 451758 shares of WAC exchange hands on a given day and today's volume is recorded at 667919.