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Stock Market & Financial Investment News

News Breaks
June 20, 2014
13:26 EDTOCN, WFCAnalysts see Ocwen, Wells deal halt to be lifted, Inside Mortgage Finance says
Wells Fargo's (WFC) deal to sell its $39B nonprime MSR servicing portfolio to Ocwen Financial (OCN) remains halted by New York's financial regulator, but stock analysts who recently met with Ocwen executives "came away with the impression that the deal 'moratorium' will be lifted" and one source close to Ocwen believes the matter “will come to a head shortly,” according to Inside Mortgage Finance. Reference Link
News For OCN;WFC From The Last 14 Days
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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.
07:13 EDTWFCFed director says full transparency in stress testing can be 'enormous weakness'
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June 24, 2015
14:26 EDTOCNOcwen outlook revised to Stable from Negative by Fitch
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June 23, 2015
13:02 EDTWFCSumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
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.
June 18, 2015
15:46 EDTWFCWells Fargo names Hope Hardison as Chief Administrative Officer
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June 17, 2015
15:04 EDTWFCGE Capital Real Estate closes nearly $10B in deals towards exit
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11:16 EDTWFCOCC restricts some banks from certain mortgage related business activity
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11:07 EDTWFCWells Fargo issues statement on amended OCC Consent Order
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06:48 EDTWFCMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
07:11 EDTWFCSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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June 15, 2015
07:33 EDTWFCBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

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