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...Last February, for example, it began a public correspondence with Ocwen Financial, the non-bank mortgage servicing company which was rapidly picking up assets from the banks, detailing concerns over its...
...plans to buy $39bn of mortgage-servicing rights from Wells Fargo....
...The company sold billions of dollars worth of home loans and mortgage servicing rights to buyers including Ocwen Financial and Berkshire Hathaway....
...Walter, Nationstar and Ocwen Financial snapped up MSRs from their much larger bank competitors to achieve their improved industry ranking....
...It is the latest deal for Ocwen this year following the acquisition of servicing companies including Litton Loan Servicing from Goldman Sachs and Saxon Mortgage Servicers from Morgan Stanley....
...The successful auction follows the sale of ResCap’s mortgage servicing business to Ocwen Financial for $3bn on Wednesday after it won a bidding war with Nationstar Mortgage....
...Bidders for ResCap’s mortgage servicing business are expected to submit their offers at a bankruptcy court auction on Tuesday....
...Such loans require intensive and costly servicing....
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