New York regulators halted Ocwen Financial's (OCN) deal to buy a mortgage servicing portfolio from Wells Fargo (WFC) out of concern that the nonbank is growing too fast.

Ocwen said Thursday it had agreed "to put an indefinite hold" on its $2.7 billion purchase of the servicing rights from Wells at the request of Benjamin Lawsky, the superintendent of New York's Department of Financial Services. Based in Atlanta, Ocwen has a New York mortgage banking charter.

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