Just how hungry is Ocwen Financial Corp. for servicing rights? In a new filing with the Securities and Exchange Commission (SEC) the nonbank servicer discloses that it is currently reviewing $300 billion of MSRs for purchase.

Late Monday, the company could not be reached for comment about the details.

Ocwen is on the verge of closing on two large MSR purchases: a $15 billion package of nonprime product from JPMorgan Chase, and a $26 billion deal from Saxon Mortgage, which is owned by Morgan Stanley. Both could close this month.

The $300 billion figure, the company said, excludes the JPM and Saxon transactions.

Investment banking officials told ASR sister publication National Mortgage News that Ocwen and JPM are discussing additional purchases.

Once these two transactions are completed Ocwen will control roughly $140 billion of MSRs, most of it tied to nonprime loans.

In its new investor presentation Ocwen claims it has a “highly scalable” servicing platform and “the lowest operating cost in the industry.”

A former thrift, Ocwen began purchasing non-performing loans in 1992 and has serviced subprime since 1996.

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