A Florida company that acquired a loan serving company with an office in Raleigh plans to close the facility and eliminate 242 jobs.

Ocwen Financial Services filed a notice with the state today under the Worker Adjustment and Retraining Notification Act — something required by federal law any time a company is planning to shut down a facility or lay off a large number of workers..

The notice states that Ocwen, which completed its $1.3 billion acquisition of HomEq Servicing today, will permanently close the HomEq office at 701 Corporate Center Drive by October 31.

HomEq services troubled loans for lenders and investors, taking calls from struggling homeowners and working with borrowers to modify their loans or lower interest rates on their mortgages.

HomEq had roughly 1,200 employees as of June when the acquisition was announced. The majority of them are located at the company's main offices in North Highlands, a suburb of Sacramento, Calif.

A loan servicing company with an office in Raleigh is being sold for the fourth time in ten years.

London-based Barclays Bank has reached a deal to sell HomEq Servicing to Ocwen Financial Services for $1.3 billion.

HomEq has roughly 1,200 employees. About 200 are based in Raleigh, with the rest located at the company's main offices in North Highlands, a suburb of Sacramento, Calif.

HomEq services troubled loans for lenders and investors, taking calls from struggling homeowners and working with borrowers to modify their loans or lower interest rates on their mortgages.

West Palm Beach, Fla.-based Ocwen is one of the country's largest subprime loan servicing companies. It has offices in California, Washington D.C., Florida and Georgia as well as operations in India and Uruguay.

Ocwen officials did not immediately return a call seeking comment about whether the acquisition would affect operations at the Raleigh office.