Ocwen to Acquire Portfolio of Mortgage Servicing Rights from Wells Fargo

by Benzinga Staff
January 22, 2014 9:04 AM | 24 seconds read | Make a Comment

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Ocwen Financial (NYSE: OCN) today announced that its mortgage servicing arm has signed an agreement with Wells Fargo (NYSE: WFC). for the purchase of residential mortgage servicing rights on a portfolio consisting of approximately 184,000 loans with a total principal balance of $39 billion.  The sale will be finalized as servicing is transferred, which Ocwen expects will occur during 2014.  The loans underlying the residential mortgage servicing rights sold are primarily in private label securities.

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27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

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