Ocwen Financial is buying mortgage servicing rights and related servicing advances from OneWest Bank in Pasadena, Calif., for $2.5 billion.

The Atlanta mortgage servicer said Thursday it would buy $78 billion in unpaid principal balances of mortgage servicing rights using a combination of cash and available credit.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.