Ocwen Financial To Sell $9.6 Bln Portfolio Of Mortgage Servicing Rights

(RTTNews) - Ocwen Financial Corp. (OCN), announced that its subsidiary, Ocwen Loan Servicing, LLC and Green Tree Loan Servicing LLC, an indirectly held, wholly owned, subsidiary of Walter Investment Management Corp. (WAC), have signed an agreement in principle for the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 55,500 largely performing loans owned by Freddie Mac with a total principal balance of approximately $9.6 billion.

The transaction is expected to close by April 30, 2015 and the loan servicing to transfer in May 2015.