Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar Mortgage Holdings Inc, as part of a strategy to …
By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co has agreed to pay $500 million to end more than six years of class action litigation over Bear Stearns' sale of $17.58 billion of mortgage securities that proved defective during the U.S. housing and financial crises. The all-cash settlement was made public late Monday, and requires approval by U.S.
JPMorgan Chase & Co has agreed to pay $500 million to end more than six years of class action litigation over Bear Stearns' sale of $17.58 billion of mortgage securities that proved defective during the U.S. housing and financial crises. The all-cash settlement was made public late Monday, and requires approval by U.S. District Judge Laura Taylor Swain in Manhattan. It resolves claims that Bear …
The Zacks Analyst Blog Highlights: Federal National Mortgage Association, Federal Home Loan Mortgage, Ocwen Financial, Nationstar Mortgage Holdings and Bank of America