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Ocwen survives Wells Fargo vote on termination of servicing rights

Interesting story. If you look closely you will notice that in most of the deals the majority of Wells Fargo certificate holders did not even vote. The one deal where the majority of certificate holders did vote was the one where Ocwen came closest to losing their servicing rights.

Justice League

Ocwen Financial’s (OCN) journey out of the woods continues, with the company surviving a vote by Wells Fargo (WFC) certificate holders to terminate Ocwen’s servicing rights on 12 deals.

All 12 deals failed to garner enough support to transfer servicing from Ocwen, though one came close to the majority vote needed.

Read on.

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