JPMorgan to acquire $45B of troubled company’s servicing rights

by MPA18 Mar 2015
In early March, Ocwen Financial Corp. had said it was on track to sell the servicing rights for mortgages with a balance of $55 billion. The firm had previously announced that it had sold almost $10 billion of those rights to Nationstar, but it didn’t identify who was acquiring the other $45 billion.
Now, according to insiders, JPMorgan Chase, the second-largest servicer of U.S. mortgages, will acquire the other $45 billion.

The 277,000 underlying debts are performing loans owned by Fannie Mae, and Ocwen said it expects to complete the transaction by mid-year and hand off the servicing during the second half.

The price was undisclosed. However, Ocwen said previously that the sale of the $55 billion in servicing rights would result in about $550 million in proceeds.


  • by Cheryl M | 3/18/2015 10:14:44 AM

    I'm confused, troubled company's servicing rights going to another troubled company to service...Really..After the DOJ and State Attorney General offices pointed out in their "settlement" with JPM and their "mortgage" related problems. To big to fail alive and well

  • by | 3/18/2015 4:05:25 PM

    We are in dire need of reform!


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