Well Fargo’s (WFC) stock finished the day in the green after it announced it signed an agreement to sell Ocwen Loan Servicing (OCN) a $39 billion portfolio of residential mortgage servicing rights.
The transaction involved approximately 184,000 loans, which is approximately 2% of the bank’s total residential servicing portfolio.
In light of the deal, Wells Fargo stock rose 0.51% at the end of the trading day.
But the same good news did not give Ocwen a boost.
Ocwen, on the other hand, finished the day down 2.79%: the biggest percentage drop recorded on the HW 30 during the Wednesday trading day.
Overall, the HW 30 witnessed another slow day, finishing up 0.03%.
However, the tepid day filtered into the rest of the market as well.
The Nasdaq concluded the day up 0.41%, while the S&P 500 finished up 0.06%.
Two homebuilders witnessed huge gains Wednesday, with D.R. Horton (DHI) and Toll Brothers (TOL) ending the day up 2.28% and 2.06%, respectively.
