Tag Archives: HomEq

Goldman Sachs has agreed to sell its residential mortgage servicing subsidiary to Ocwen Financial Corp. Ocwen will pay $263.7 million in cash to acquire Litton Loan Servicing. In addition to the cash purchase price, Ocwen will lay out another $337 million to take care of some of Litton's outstanding debt. The deal will result in Ocwen's acquisition of a servicing portfolio of approximately $41.2 billion in unpaid principal balance of primarily non-prime residential mortgage loans.

Ohio Attorney General Richard Cordray's lawsuit against Barclays Capital Real Estate, dba HomEq Servicing, just took a legal step forward with a recent decision by a state court. This week, a Montgomery County judge overruled the defendant's motion to dismiss, clearing the way for Cordray's case to move forward, and the attorney general says, setting the stage for servicers to be held legally responsible for their actions in the aftermath of the foreclosure crisis.