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home / news releases / OCN - Texas Capital Bank to sell mortgage servicing rights asset to Ocwen Financial

OCN - Texas Capital Bank to sell mortgage servicing rights asset to Ocwen Financial

Ocwen Financial Corporation
Texas Capital Bank, N.A., agrees to sell its portfolio mortgage servicing rights attributable to a mortgage portfolio approximating $14B to Ocwen Financial's (OCN) PHH Mortgage unit.Terms of the deal weren't disclosed. Texas Capital Bank is a subsidiary of Texas Capital Bancshares (TCBI).The transaction fits with Texas Capital Bank's strategy to increase capital flexibility and "better align resources and investments to core, high-growth opportunities for long-term value creation."The bank also is reinforcing its commitment to its Mortgage Finance, Mortgage Warehouse and Specialty Lending businesses and expects to increase its investments to those lines of businesses.

For further details see:

Texas Capital Bank to sell mortgage servicing rights asset to Ocwen Financial
Stock Information
Company Name: Ocwen Financial Corporation
Stock Symbol: OCN
Market: NYSE
Website: omnicomgroup.com
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