Ocwen Financial Corp said it will sell residential mortgage servicing rights worth $9.6 billion to Green Tree Loan Servicing LLC, a subsidiary of Walter Investment Management Corp. The portfolio consists of about 55,500 loans owned by Freddie Mac.
Ocwen Financial Corporation is a financial services holding company. Shares of OCN fell by 0.11% or $-0.01/share to $8.98. 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 4799459.
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 15.73% or $2.45/share to $18.03. 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 361987.
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