Skip to main content

Ocwen Acquisition of PHH to Close on Thursday

Oct 01, 2018
Embrace Home Loans formed a partnership with Ameriprise Financial that will provide Ameriprise's wealth management advisors and clients with mortgage financing and services

Ocwen Financial Corp. has announced that it will close its $360 million acquisition of PHH Corp. on Thursday, Oct. 4, prior to the opening of the financial markets.
Ocwen Financial Corp. has announced that it will close its $360 million acquisition of PHH Corp. on Thursday, Oct. 4, prior to the opening of the financial markets
Ocwen stated that it received all necessary regulatory, governmental, and contractual approvals and consents needed to close the transaction. Ocwen initially announced the acquisition on Feb. 27.
 
“We are very pleased to announce the proposed acquisition of PHH, a leading non-bank servicer,” said Ocwen President and CEO Ron Faris when making the announcement of the deal. “PHH is a high-quality servicer with complementary capabilities and business lines to Ocwen, making it a great strategic match for us. In addition to providing significant scale benefits, this transaction gives us the opportunity to migrate to their existing BlackKnight LoanSphere MSP servicing platform more quickly and with less risk than had we just implemented the system ourselves. We are also excited by the opportunity to welcome the PHH employees to the Ocwen family and by the opportunity to bring our industry-leading and innovative loss mitigation capabilities to existing PHH servicing customers currently struggling with their mortgage payments.”

 
About the author
Published
Oct 01, 2018
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next

Housing Market Outlook: Brighter Days To Come

NAR Chief Economist Yun calls lower mortgage rates ‘magic bullet’ to boost home sales

Jun 11, 2025
Redfin Shareholders Say Yes To Acquisition By Rocket

Nearly 99% of Redfin shareholders vote to approve merger, though fewer vote yes to compensation for company’s execs

Jun 10, 2025
Play Ball: Ishbias Could Add Another Team To Their Roster

Justin Ishbia in agreement to potentially take over as owner of Chicago White Sox — but not for several years yet

Jun 09, 2025
Rift That Could Shift The Housing Market

Trump-Musk breakup this week could have implications for federal economic policies as well as the housing and mortgage markets