Ocwen Financial Corp. (OCN) announced Monday morning that Ocwen Loan Servicing has signed an agreement in principle to sell a $9.8 billion portfolio of mortgage servicing rights to Nationstar Mortgage LLC, a subsidiary of Nationstar Mortgage Holdings (NSM).
Nationstar Mortgage Holdings gapped up sharply Monday and has continued to rise in early trade. Shares are now up 2.94 at $30.87 on above average volume. The stock has risen to a 2-month high.
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