FILE- In this Wednesday, June 6, 2012 file photo, Aubrey McClendon, CEO of Chesapeake Energy Corp., is pictured during the second half of Game 6 in the NBA basketball Western Conference finals, in Oklahoma City. An investigation by Chesapeake Energy Corp.'s board of directors into outgoing CEO Aubrey McClendon's personal financing deals with company partners has found the deals did not benefit McClendon improperly or cost the company more. (AP Photo/Sue Ogrocki, File)
Ocwen Financial names Wilbur Ross to board
Published: 04:51:32 PM, Wed 13 March 2013 UTC
ATLANTA (AP) — Loan servicing company Ocwen Financial Corp. said Wednesday it appointed billionaire investor Wilbur Ross to its board of directors.
Ross, chairman and CEO of the private equity firm WL Ross & Co., specializes in making big profits through buying up bad debt. He is the seventh member of Ocwen's board.
In December Ocwen bought Homeward Residential Holdings, a mortgage servicing company, from WL Ross for $750 million in cash and stock.
In midday trading, Ocwen shares added 18 cents to $40.52.
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