J.P. Morgan Chase & Co. (>> JPMorgan Chase & Co.) is buying the servicing rights to $45 billion in home loans from Ocwen Financial Corp. (>> Ocwen Financial Corp), Bloomberg News reported Tuesday on its website, citing a person familiar with the transaction.
Earlier this month Ocwen announced it had signed a letter of intent to sell a loan servicing portfolio of that size, but did not identify the buyer. The buyer is J.P. Morgan, the person told Bloomberg.
Full story at: www.bloomberg.com/news/articles/2015-03-17/jpmorgan-said-to-buy-45-billion-of-servicing-rights-from-ocwen
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