Shortly after our blog posting went out on Friday evening, Ocwen (OCN) and Nationstar (NSM) and affiliated companies announced two agreements that sent all of their shares higher.
It will be interesting to see if some of them come back today: the reasoning for the bounce isn't immediately clear -- certainly for some of the Ocwen affiliates (AAMC, ASPS and RESI) who might reasonably be expected to miss out on future revenue opportunities as a result of the sale of HLSS.
Or is this just a win-win-win-win-win-win-win?
Ocwen selling MSRs to Nationstar ($9.8 billion of loans).
New Residential (NRZ) to buy HLSS: http://www.wsj.com/articles/new-residential-to-buy-home-loan-servicing-solutions-for-1-3-billion-1424692915?mod=yahoo_hs