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Stock Market & Financial Investment News

News Breaks
January 22, 2014
09:01 EDTWFC, OCNWells Fargo to sell mortgage servicing rights on approx. 184,000 loans to Ocwen
Wells Fargo (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., has signed an agreement with Ocwen Loan Servicing LLC (OCN) for the sale of residential mortgage servicing rights on a portfolio consisting of approximately 184,000 loans with a total principal balance of $39B, or approximately 2% of Wells Fargo’s total residential servicing portfolio as of the end 4Q13. The sale will be finalized as servicing is transferred, which the company expects will occur during 2014. The transaction will not be material to the company’s financial results. The loans underlying the residential mortgage servicing rights sold are primarily owned by private investors and were not originated or owned by Wells Fargo. The loans are serviced under the trade name, America’s Servicing Company.
News For WFC;OCN From The Last 14 Days
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July 21, 2014
10:02 EDTWFCOn The Fly: Analyst Downgrade Summary
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08:36 EDTWFCWells Fargo downgraded to Hold from Buy at Rafferty Capital
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July 17, 2014
07:14 EDTWFCWells Fargo CEO John Stumpf says economy stronger than people think
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July 16, 2014
07:07 EDTOCNOcwen Financial creates Community Advisory Council
Ocwen Financial announced the creation of a Community Advisory Council. The Council will provide a forum for Ocwen leaders and community advocates to share ideas, discuss policy issues and collaboratively identify opportunities for Ocwen to have a positive impact on local communities, particularly those hit hardest by the economic downturn. The Council will work with Ocwen to consider issues such as principal reduction modifications for families with underwater mortgages; reducing urban blight; helping communities of color that have been hardest hit by the mortgage crisis; and improving language access to borrowers with limited English proficiency. The Council will be chaired by Ronald Faris, president and CEO of Ocwen, and will initially consist of 15 leading non-profit community advocates and housing counseling agencies from around the country. Other members may be added to the Council in the future.
July 15, 2014
10:37 EDTWFCOptions with decreasing implied volatility
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08:03 EDTWFCCBS reports results of CBS Outdoor exchange offer
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