SECOND QUARTER BUSINESS PERFORMANCE HIGHLIGHTS
- The acquisition of the $6.9 billion Saxon servicing portfolio was completed on May 3, 2010.
- The signing on May 28, 2010 of a definitive agreement to acquire the servicing rights and platform of HomEq from Barclays Bank which is projected to close on September 1, 2010.
- Standard and Poor's upgraded Ocwen's unsecured debt rating from "B-" to "B" while Moody's removed their negative outlook.
- The completion of 14,384 modifications which was within our guidance of 12,500 to 15,500.