Morgan Stanley (MS) Sells Saxon Mortgage Services to Ocwen Financial (OCN)
Tweet
Share
E-mailGet Alerts MS Hot Sheet
Join SI Premium – FREE
Morgan Stanley (NYSE: MS) announced the sale of Saxon Mortgage Services, Inc., a provider of servicing and subservicing of residential mortgage loans, to Ocwen Financial Corporation (NYSE: OCN). Ocwen has agreed to acquire Saxon for the base purchase price of $59.3 million, plus an estimated $1.4 billion for servicing advance receivables outstanding.
The transaction is targeted to close in the first quarter of 2012 and is not expected to have a material impact on financial results.
The transaction is targeted to close in the first quarter of 2012 and is not expected to have a material impact on financial results.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
- loanDepot receives NYSE non-compliance notice over stock price
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
Morgan Stanley, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
