Altisource Portfolio to Buy Some Businesses of Homeward Res, Rescap, Combined Purchase Price $218.6M
Altisource Portfolio Solutions S.A., on behalf of itself and its subsidiaries, ("Altisource") (Nasdaq: ASPS) entered into non-binding letters of intent with Ocwen Financial Corporation, on behalf of itself and its subsidiaries, ("Ocwen") (NYSE: OCN) to acquire certain fee-based businesses related to Ocwen's recently acquired Homeward Residential Holdings, Inc. mortgage servicing and origination business platform (the "Homeward Residential Fee-Based Businesses") and Ocwen's anticipated purchase of the mortgage servicing platform from Residential Capital, LLC (the "ResCap Fee-Based Businesses") for a combined purchase price of $218.6 million.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.