Ocwen Financial and Wells Fargo have terminated their planned mortgage-servicing deal, Wells said in a press release Thursday.
The parties mutually canceled the troubled transaction, the release said. Wells said the cancellation would have no effect on its financial results.
An 8-K filing by Ocwen states the company will receive back its entire $25 million deposit.
Wells had
Ocwen Financial last month said it had taken a $100 million charge for a potential settlement for the servicing violations and posted a third-quarter loss.
Wells Fargo is based in San Francisco, and Ocwen has its headquarters in Atlanta.