Does anyone have any experience buying a note (at a discount) from OCWEN? The owner of the property is in BK and the BK trustee will sell their interest in the property for pennies on the dollar subject to the existing liens. They want to avoid a short sale and the capital gain taxes.
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Most loans are not sold individually but in large pools.
ATLANTA, May 7, 2014 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) announced today that it had launched a private placement of $350 million in aggregate principal amount of Senior Notes due 2019 (the "Notes"). The Notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Company intends to use the net proceeds from this offering for general corporate purposes.
The Notes have not been registered under the Securities Act, any other federal securities laws or the securities laws of any jurisdiction, and until so registered, the Notes may not be offered or sold in the United States to, or for the account or benefit of, any United States person except pursuant to an exemption from the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of, any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
http://shareholders.ocwen.com/releasedetail.cfm?ReleaseID=846006
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