The investment bank said the the sale price does not reflect certain assets that Goldman Sachs will retain.
Reportedly, Ocwen will be getting a portfolio of loans with nearly $41.2bn in unpaid principal balance as of March 31, most of them non-prime home mortgages.
Goldman Sachs said that it does not expect the sale to have any material impact on earnings in the second quarter due to the combination of the sales price and the impairment charge announced in the first quarter of 2011 primarily related to Litton.
Ocwen Financial is a provider of residential and commercial loan servicing, special servicing and asset management services, headquartered in Atlanta, Georgia with offices in West Palm Beach and Orlando, Florida and Washington, DC and support operations in India and Uruguay.
