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Stock Market & Financial Investment News

News Breaks
November 1, 2012
09:21 EDTOCN, GNWOcwen in deal to acquire Genworth Financial Home Equity Access for $22M
Ocwen Financial (OCN) announced that on October 26 the company and Genworth Financial (GNW) entered into an agreement whereby Ocwen will acquire Genworth Financial Home Equity Access for approximately $22M in cash. The company, which will be renamed Liberty Home Equity Solutions, is the number one reverse mortgage lender, according to the latest monthly data, with strong positions in both retail and wholesale originations, Ocwen said. The acquisition is expected to close in the first quarter of 2013.
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