Jun
04

Moody’s Upgrades Ocwen Financial Amid MSR Sales, Minimizing Death Spiral Fears

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Ratings agency Moody’s MCO -1.41% 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 asJPMorgan Chase JPM -0.55% and Nationstar Mortgage. While Moody’s believes the MSR sales will provide cash for Ocwen to deleverage its balance sheet, potentially minimizing investor fears of a downward spiral to its credit, the rating agency warns that the company continues to face “significant challenges to reestablish a resilient business model.”…

Moody’s Upgrades Ocwen Financial Amid MSR Sales, Minimizing Death Spiral Fears

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