Ocwen Financial's recent regulatory troubles may open the door for New Residential Investment Corp. to transfer its massive subservicing portfolio away from the beleaguered servicer to an affiliate, Nationstar Mortgage Holdings.

New Residential's relationship with Ocwen dates back to its 2015 acquisition of the assets of former Ocwen affiliate Home Loan Servicing Solutions, including rights to servicing fees on mortgage-servicing rights owned by Ocwen.

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