Skip to content
Subscriber Only

Ocwen to Sell $9.6 Billion Servicing Portfolio to Walter

Updated on

Ocwen Financial Corp. agreed to sell $9.6 billion of residential mortgage servicing rights to a unit of Walter Investment Management Corp. as Chief Executive Officer Ronald Faris shrinks the company under pressure from regulators.

The portfolio consists of about 55,000 loans owned by Freddie Mac, Atlanta-based Ocwen said Wednesday in a statement. The deal is expected to be completed by April 30, the firm said.