Ocwen Financial (OCN) Announces Agreement With Reverse Mortgage Solutions to Acquire Reverse Mortgage Servicing Platform
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Ocwen Financial Announces Agreement With Reverse Mortgage Solutions to Acquire Reverse Mortgage Servicing Platform
June 18, 2021 6:45 AM EDTWEST PALM BEACH, Fla., June 18, 2021 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company), a leading non-bank mortgage servicer and originator, today announced that its wholly-owned subsidiary, PHH Mortgage Corporation (PHH), has entered into an agreement with Reverse Mortgage Solutions, Inc. (RMS) and its parent, Mortgage Assets Management, LLC (MAM), to acquire substantially all of the operations, assets and employees of the RMS reverse mortgage servicing platform. MAM is a subsidiary of investment funds managed by Waterfall Asset Management, LLC (Waterfall). The Company will also acquire all of the outstanding equity interests in the RMS Real... More
