Ocwen to sell servicing rights on $45 bln of Fannie Mae loans

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 …

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Ocwen to sell servicing rights on $45 bln of Fannie Mae loans