Ginnie Mae ditches paper and goes eMortgage

Ginnie Mae ditches paper and goes eMortgage

Electronic filing to start very soon

Fannie Mae offers new suite of HomePath financing

Goodbye HomePath Mortgage and HomePath Renovation

CNBC video: Home shortage could be due to real estate agents

Pocket listings drag down inventory?
W S
Servicing / The Ticker

Ocwen to sell mortgage servicing rights in capital markets

Bond deal will be called OASIS

dollar zoomed in
KEYWORDS Bonds / MSR / Ocwen / Wells Fargo
/ Print / Reprints /
| Share More
/ Text Size+

Ocwen (OCN) is moving forward with plans to package a pool of mortgage servicing rights to sell to investors on the capital markets.

According to sources who confirmed the deal, it may price as early as next week.

According to Bloomberg, the deal is called OASIS, which is short for Ocwen Asset Servicing Income Series IO MSR-Secured Notes Series 2014-1.

The IO in the title means interest only and represents $11.77 billion in notional balance, in an expected $130 million sale.

The servicing fees equal 0.21%, with a weighted-average life of 7.55 years.

Ocwen is also facing a few challenges recently.

According to Reuters, investors "want greater transparency on how Ocwen, the country's largest nonbank mortgage servicer, manages its mortgages, particularly loan modifications."

The article states these investors may be willing to go to court to try to get their wish.

Last week, the superintendent of New York’s Department of Financial Services put an indefinite freeze on the $2.7 billion MSR deal between Ocwen and Wells Fargo (WFC).

Recent Articles by Jacob Gaffney

Comments powered by Disqus