West Hand Beach, Fla., (Business NEWSWIRE) — Ocwen Economic Agency (NYSE: OCN) (“Ocwen” or the “Company”), a number one non-lender mortgage payday loans Clayhatchee servicer and you can creator, now revealed one to their wholly-owned subsidiary, PHH Home loan Organization (“PHH”), has actually done new before established transaction which have Opposite Home loan Choice, Inc. (“RMS”) as well as mother, Mortgage Property Administration, LLC (“MAM”), to acquire dramatically all the RMS contrary mortgage upkeep platform and all the a good security passion regarding RMS Genuine Estate Had team, REO Management Solutions, LLC (“REO”). MAM was a subsidiary from investment fund treated of the Waterfall Resource Administration, LLC (“Waterfall”).

Concurrent on the closing of one’s exchange, PHH became the fresh new subservicer significantly less than an effective five-season subservicing arrangement to have contrary mortgage loans owned by RMS and you may MAM and you may assumed whenever 350 reverse repair and you will REO professionals. (더 보기…)