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Ocwen Closing Residential Servicing Operations in Houston

Ocwen is shutting down its residential mortgage servicing operations at its facility in Houston.

Ocwen said that the Houston facility is the company’s smallest residential servicing call center in the U.S., and the decision to shutter the call center will affect 140 residential servicing employees, whose positions will be eliminated.

Ocwen said the 140 employees whose positions are being eliminated represent less than 5% of the company’s approximately 3,200 employees in the U.S.

The news of the Houston facility cutbacks comes on the heels of Ocwen selling off agency servicing rights. Ocwen recently completed the sale of a $25 billion MSR portfolio to Nationstar Mortgage, just over a month after agreeing to sell another $9.8 billion portfolio of agency servicing to Nationstar.

Ocwen returned to profitability in the first quarter, reversing a trend that saw it lose $546 million in 2014.

The company reported net income of $34.4 million, or $0.27 per share, for the first quarter of 2015.

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