Ocwen renews and upsizes credit facility

By Sara Rosenberg

New York, Aug. 13 - Ocwen Financial Corp. renewed its credit facility and increased the size to $350 million from $300 million, effective Aug. 15, according to a company news release.

JPMorgan is the lead bank on the deal.

Borrowings under the facility are used to finance advances made in connection with the company's mortgage loan servicing operations as well as acquisitions of mortgage servicing rights.

Ocwen is a West Palm Beach, Fla.-based business process outsourcing provider to the financial services industry, specializing in loan servicing, mortgage fulfillment and receivables management services.

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