Ally Bank continued its retreat from home lending by agreeing Tuesday to sell a portfolio of mortgage servicing rights to Ocwen Financial Corp. (OCN) for roughly $585 million.

For Ally, the $94.8 billion-asset unit of Ally Financial, the deal means a near-complete exit from the mortgage lending business. For Atlanta-based Ocwen, the acquisition is another successful bid in building its massive mortgage servicing platform.

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