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Stock Market & Financial Investment News

News Breaks
November 21, 2012
10:43 EDTWAC, OCNOcwen, Walter get bankruptcy court approval for purchase of ResCap businesses
Ocwen Loan Servicing, the mortgage servicing arm of Ocwen Financial (OCN), and its joint bidding partner Walter Investment Management (WAC), received approval from the U.S. Bankruptcy Court for the Southern District of New York to complete their purchase of the mortgage servicing and origination businesses from Residential Capital and certain of its affiliates pursuant to the previously announced Asset Purchase Agreement dated November 2. The sale to Ocwen and Walter for a purchase price of approximately $3B was recommended to the court by ResCap's board and management and supported by the unsecured creditors' committee. The transaction is expected to close in the first quarter of 2013.
News For OCN;WAC From The Last 14 Days
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June 29, 2015
08:34 EDTWACWalter Investment adopts one-year shareholder rights plan
Walter Investment announced that its board has adopted a one year shareholder rights plan. Walter Investment's board adopted the rights plan in response to accumulations of the company's shares in the market. The rights plan is intended to enable all Walter Investment shareholders to realize the full value of their investment in the company and to reduce the potential that any person or group could gain control of the company by open market accumulation or other tactics without paying a control premium. The rights plan applies equally to all current and future stockholders and is not intended to deter offers that are fair and otherwise in the best interests of the company's shareholders. The rights plan, which has a 20% beneficial ownership threshold, may be amended, redeemed or terminated by the board at any time prior to being triggered or its expiration on June 29, 2016. The rights plan exempts any person or group currently owning 20 percent or more of the company's common stock. However, the rights will be exercisable if a person or group that already owns 20 percent or more of the company's common stock acquires any additional shares after the time of announcement of the rights plan.
June 25, 2015
11:07 EDTOCNOcwen management to meet with Piper Jaffray
Meeting to be held in Boston on June 29 hosted by Piper Jaffray.
June 24, 2015
14:26 EDTOCNOcwen outlook revised to Stable from Negative by Fitch
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June 22, 2015
16:41 EDTWACBaker Street Capital reports 22.3% stake in Walter Investment
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June 19, 2015
07:05 EDTOCNOcwen servicer downgrade by S&P expected, says Piper Jaffray
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06:51 EDTOCNOcwen servicer rankings lowered to Below Average by S&P
Standard & Poor's yesterday afternoon lowered its rankings on Ocwen Loan Servicing to Below Average from Average as a residential mortgage prime, subprime, special, and subordinate-lien servicer and removed the four rankings from CreditWatch with negative implications. "We believe regulatory and investor scrutiny and/or actions have affected Ocwen's operations," the ratings agency said.

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