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Post# of 648882
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dDT

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dDT

Re: None

Monday, 02/23/2015 7:38:18 AM

Monday, February 23, 2015 7:38:18 AM

Post# of 648882
New Residential scoops up Home Loan Servicing

There's finally a deal for one of the troubled Ocwen Financial family of businesses, with New Residential (NYSE:NRZ) agreeing to buy Home Loan Servicing (NASDAQ:HLSS) for $18.25 per share in cash - a total price of about $1.3B.
The deal is expected to close in Q2.
New Residential CEO Michael Nierenberg: "The acquisition will significantly add to the value of our book of mortgage servicing assets and expand our relationships with mortgage servicers to include both Nationstar Mortgage and Ocwen Financial."
A steal? HLSS has trundled along between $20 and $25 per share for the last two years (while paying a sizable dividend). It fell to as low as about $10 earlier this year amid Ocwen's regulatory issues.
Source: Press release
HLSS +6%, NRZ -2.4% premarket
Others: Ocwen (NYSE:OCN) +2.1%

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