(Source: New York Times By MICHAEL J. DE LA MERCED) – Goldman Sachs has agreed to sell its Litton Loan Servicing unit to the Ocwen Financial Corporation for about $263.7 million, ending its ties to an industry steeped in controversy. Under the terms of the deal, Ocwen will pay about $337.4 million to retire debt that Litton owes to a Goldman unit. Ocwen will also provide $2.47 billion to finance advances for Litton.

Source: New York Times By MICHAEL J. DE LA MERCED

June 6, 2011, 9:58 am

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