Ocwen Financial Corp said it would sell an additional $25 billion of servicing rights on agency loans to a subsidiary of Nationstar Mortgage Holdings Inc , its fourth such deal in two months.Ocwen's shares fell 6 percent to $8.31 in premarket trading on Tuesday.The company has been slimming down its operations since regulators questioned its servicing standards last year. Ocwen has sold about $90 billion of servicing rights since February.The portfolio being sold to Nationstar comprises about 142,000 performing loans owned by government-controlled mortgage finance firms Freddie Mac and Fannie Mae.
Nationstar Mortgage Holdings Inc. (Nationstar Inc. Shares of NSM fell by 1.34% or $-0.4/share to $29.54. In the past year, the shares have traded as low as $22.94 and as high as $37.95. On average, 810457 shares of NSM exchange hands on a given day and today's volume is recorded at 403095.
Ocwen Financial Corporation is a financial services holding company. Shares of OCN traded higher by 3.29% or $0.28/share to $8.80. In the past year, the shares have traded as low as $5.66 and as high as $40.44. On average, 8722700 shares of OCN exchange hands on a given day and today's volume is recorded at 8433448.
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