Ratings agency Moody's upgraded the credit rating of Ocwen on Wednesday morning following the embattled company's sale of nearly $100 billions in mortgage servicing rights to competitors such as JPMorgan Chase and Nationstar Mortgage. While Moody's believes the MSR sales will provide cash for Ocwen to deleverage its balance sheet, it warns that the company continues to face "significant challenges to reestablish a resilient business model."
Source Forbes - Business http://ift.tt/1QsBNtJ
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