NY regulator freezes Ocwen-Wells Fargo $2.7B MSR deal

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The superintendent of New York’s Department of Financial Services is reportedly putting an indefinite freeze on the $2.7 billion MSR deal between Ocwen Financial Corp. (OCN) and Wells Fargo (WFC).

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Updated, 4:12 p.m. | A New York State regulator has dealt a blow to Ocwen Financial by halting the transfer of about $39 billion in servicing rights to the company from Wells Fargo. The office of Benjamin M. Lawsky, the superintendent of New York State’s Department of Financial Services, has halted indefinitely Wells Fargo’s transfer of the mortgage servicing rights to Ocwen, according to.

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At the center of New York Department of Financial Services chief Ben Lawsky’s concerns are Ocwen’s (OCN-2%) relationship with altisource portfolio solutions (NASDAQ:ASPS) and its home-auction website.

Contents Fargo $2.7b msr deal York agreement modifies Million fine. ocwen’ 2.7 billion msr deal Massive MSR deal between Wells Fargo and Ocwen is officially. – Massive MSR deal between Wells Fargo and Ocwen is officially dead Deal was put on hold by NYDFS in February.. NY regulator freezes Ocwen-Wells. Continue Reading

Trey Garrison, Housing Wire During the conference call for Home Loan Servicing Solutions (HLSS) first-quarter earnings, HLSS Chairman William Erbey said the New York Department of Financial Services’ indefinite hold on the $2.7 billion MSR deal between Ocwen Financial (OCN) and Wells Fargo (WFC) has put a freeze on all MSR deals in the market.

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NY Regulator to Halt Ocwen-Wells Fargo Mortgage-Servicing Deal Shayndi Raice broke the news that a New York state regulator had halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo & Co., citing people familiar with the matter.

A New York state regulator has indefinitely stopped a $2.7B deal by by Ocwen Financial (OCN) to buy mortgage-servicing rights from Wells Fargo (WFC), according to The Wall Street Journal, citing a.