New Residential Investment Corp.

Ocwen Financial Corp. got back in the black during the first quarter after selling New Residential Investment Corp. $110 million in economic rights to mortgage servicing.

New Residential Investment Corp. reported a 400% year-over-year increase in net income as its servicing revenue improved dramatically over the previous year.

The servicing business drove Nationstar Mortgage Holdings' fourth-quarter profitability and will be a major factor going forward after the company is acquired by WMIH.

From accelerating its subservicing transformation to overcoming regulatory obstacles, here's a look at three reasons behind Ocwen Financial Corp.'s $360 million acquisition of PHH Corp.

Ocwen Financial is receiving a lump-sum payment of $280 million from New Residential under the latest restructuring of the mortgage servicing rights sale.

The largest residential mortgage servicers will get even larger in 2018, benefiting from consolidation and the outsourcing of servicing rights acquired by companies without their own platforms.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

New Residential Investment Corp. may seek to accelerate the process of transferring more than $100 billion in mortgage servicing rights it agreed to buy from Ocwen for $400 million.

Ocwen Financial Corp. recorded a $44.4 million net loss in the second quarter related to its court battles and other expenditures, including costs related to its exit from correspondent lending.

Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.