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Ocwen Buying $78 Billion of Loans From IndyMac

Mega mortgage servicer Ocwen announced in June that it's acquiring $78 billion in unpaid principal balance of mortgage servicing rights and related advance receivables from OneWest Bank.

In a securities filing, Ocwen elaborated on the loans involved in the transaction.

The OneWest portfolio has an estimated loan count of 307,000 mortgages, with 149,000 tied to private-label securities. The remaining 158,000 mortgages are agency loans tied to Fannie Mae, Freddie Mac and Ginnie Mae securities.

"For the OneWest portfolio, as of June 30, 2013, delinquencies are in the 25-30% range for private-label securities and in the 20-25% range for agency securities," Ocwen reported.

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