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Bank of America Corp To Sell Rights To Service $300 Billion Loans; Ocwen Financial Corp, Nationstar Mortgage Holdings Inc And Walter Investment Management Corp, Among Buyers-Reuters


Sunday, 6 Jan 2013 07:55pm EST 

Reuters reported that Bank of America Corp is in talks to sell collection rights on $300 billion of mortgages. Ocwen Financial Corp, Nationstar Mortgage Holdings Inc and Walter Investment Management Corp are among the firms that are in talks to purchase a portion of the assets. Bank of America spokesman Dan Frahm said the Company does not comment on what he characterized as 'market rumor or speculation'. Representatives of Nationstar, Ocwen and Walter did not immediately respond. The assets that Bank of America is looking to sell is known as residential mortgage servicing rights. 

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