Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corporation, and Green Tree Loan Servicing, for the sale by Ocwen of an Agency mortgage servicing rights portfolio with a total principal balance of $9.6 billion, according to an announcement from Ocwen on Wednesday morning. The portfolio consists of approximately 55,000 performing loans owned by Freddie Mac. The transaction is subject to approval by Freddie Mac and its conservator, the Federal Housing Finance Agency as well as other customary conditions.
Ocwen's announcement of the agreement with Green Tree came just one day after reports surfaced that JPMorgan Chase was the previously unidentified buyer in Ocwen's sale of a portfolio of 277,000 performing loans owned by Fannie Mae with a total unpaid principal balance of $45 billion. In February, Ocwen announced that it intended to sell the MSR on a portfolio of approximately 81,000 performing residential loans owned by Freddie Mac with a total principal balance of about $9.8 billion to Dallas, Texas-based Nationstar.
The Five Star Institute President and CEO Ed Delgado announced on Wednesday at the Five Star Government Forum in Washington, D.C., that the Institute would be partnering with the nation's leading online real estate marketplace, Auction.com, and national nonprofit Operation Homefront in support of a home donation program that provides mortgage-free homes to veterans. The home donation program will be featured at the 2015 Five Star Conference and Expo, which will take place September 16 to 18 in Dallas, Texas.