HLSS Completes Acquisition of $15.9 Billion in Ocwen MSRs

Home Loan Servicing Solutions entities have completed an acquisition from Ocwen Financial Corp. and its affiliates and subsidiaries of rights to receive servicing fees and related servicing advances for a servicing portfolio of subprime and alternative-A credit residential mortgage loans.

The transaction resulted in the acquisition of rights to MSRs with approximately $15.9 billion in unpaid principal balance of mortgage loans, according to the company.

The company also released a statement about the acquisition indicating that “the characteristics of these mortgage servicing assets are similar to those previously acquired from Ocwen, and we expect this transaction to be accretive to earnings.”

Earlier this week Ocwen agreed to buy more than $85 billion in MSRs from Ally Bank.

Article source: http://www.nationalmortgagenews.com/dailybriefing/hlss-completes-acquisition-ocwen-msrs-1035095-1.html

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