February 19, 2013 at 16:56 PM EST
Ocwen Financial Scores On Others' Distressed Loans
The arcane world of specialty mortgage servicers has moved into the limelight as banks and other large holders of risky mortgages have sold off servicing rights to them. Ocwen Financial (OCN), one of the chief beneficiaries, has seen its shares rise 41% since early October, when it announced the first of a string of deals. That first one, which sent shares rising 20% on Oct. 3, was an agreed merger with Homeward Residential, and with it, $77
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