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).

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please