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Ocwen to Spin Off Services, Technology Unit 

Dec 19, 2008By

As has been rumored for months now, Ocwen Financial Corporation [stock OCN][/stock] said Friday morning that it will look to spin off its technology and business process outsourcing business line, Ocwen Solutions, separating it from its core subprime mortgage servicing operation. Company officials confirmed they are targeting Q2 2009 for the spin off, with current OCN shareholders receiving shares of the new publicly-traded company as part of the transaction.

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