As per Reuters, Ocwen Financial Corp. (OCN) has emerged as the top contender to buy a portfolio of mortgage collection rights worth $1 billion from Ally Bank – a unit of Ally Financial Inc. This the latest development in Ocwen’s long list of mortgage servicing rights (MSR) acquisitions.
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The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
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