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U.S. agency, states hit big mortgage processor Ocwen over errors, allegedly illegal foreclosures

Bloomberg U.S. and state officials sued Ocwen Financial Corp., a processor of consumer mortgage payments, for allegedly making widespread errors and illegally foreclosing. North Carolina’s bank regulator said fixing some of the company’s problems could put it out of business. Show More Summary

Federal consumer agency accuses major mortgage servicer of mishandling loans

The Consumer Financial Protection Bureau sued Ocwen Financial Corp., one of the nation’s largest mortgage servicers, on Thursday, alleging the company engaged in “significant and systemic misconduct” that caused borrowers to lose their homes. In addition to the lawsuit filed in U.S. District Court...

Loan-servicing company crashes after regulators say big errors cost borrowers their homes (OCN)

The US Consumer Financial Protection Bureau on Thursday sued Ocwen Financial Corp and its subsidiaries, alleging the mortgage loan servicer's "years of widespread errors, shortcuts, and runarounds cost some borrowers money and others...Show More Summary

Regulators sue Ocwen Financial, say it mishandled mortgages

State and federal authorities are suing Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. The Consumer Financial Protection Bureau said Thursday that Ocwen generated … Click to Continue...

California appoints auditor to examine Ocwen treatment of borrowers

California, as part of a consent order earlier this year, has named an auditor to assess whether Ocwen Financial Corp.’s mortgage servicing complies with state and federal laws.

JPMorgan to buy $45B of Ocwen's loan-servicing rights

JPMorgan Chase & Co., the second-biggest servicer of U.S. mortgages, agreed to buy the right to manage about $45 billion in home loans from Ocwen Financial Corp. starting June 1. The deal... To view the full story, click the title l...

Embattled Ocwen reports nearly $600M loss for Q4

ATLANTA—Still saddled with a $150-million total regulatory settlement announced late last year, Ocwen Financial Corp., has announced a preliminary loss of $598.4 million for the fourth quarter of 2014. That’s a loss of $4.77 per share, compared with net income...

Mortgage servicer out of compliance with stock exchange listing rules

Mortgage servicer Home Loan Servicing Solutions (HLSS), a spinoff of Ocwen Financial Corp., has fallen out of compliance with NASDAQ’s rules for continued listing on the stock exchange after twice delaying the filing of its 2014 annual report with the U.S. Securities and Exchange Commission (SEC)...

JPMorgan named as mystery buyer of Ocwen’s $45B MSR portfolio

JPMorgan Chase & Co. has finally been identified as the buyer of $45 billion in mortgage servicing rights (MSRs) from Ocwen Financial Corp., according to a "Bloomberg" report published this week...

Home Loan Servicing Solutions Ltd (HLSS), Ocwen Financial Corp (OCN), News Corp (NWS): Kingstown Capital’s Latest Moves and Top Picks

Michael Blitzer’s Kingstown Capital Management disclosed a large new activist position last week in Home Loan Servicing Solutions Ltd (NASDAQ:HLSS), with 3.6 million shares representing 5.1% of that company’s common stock. In addition,...Show More Summary

Ocwen settles California mortgage compliance dispute for $2.5 million

2 years agoSports / Baseball : Dodgers Now

Ocwen Financial Corp. will pay $2.5 million and hire outside accountants to settle a dispute with California, which had threatened to suspend the license of the mortgage payment collector and foreclosure specialist.

Ocwen Financial's Shares Tumble on California Concerns

``Shares of beleaguered mortgage-servicing firm Ocwen Financial Corp. plummeted more than 30% Tuesday on concerns that California was seeking to suspend the firm's business license in the state, its largest market. ''

California seeking to suspend Ocwen Financial's mortgage license

2 years agoSports / Baseball : Dodgers Now

The state is seeking to suspend the mortgage license of Ocwen Financial Corp., saying the payment collection firm has failed to turn over documentation showing that it complies with California laws protecting homeowners.

New York Tells Private Company: Fire Your CEO

Walter Olson From yesterday’s Wall Street Journal [$], word that the New York Department of Financial Services has strong-armed Ocwen Financial Corp., a leading mortgage servicer, into a legal settlement that not only extracts $150 million...Show More Summary

Top mortgage servicing firm accused of foreclosure abuses

``An investigation by the state's Department of Financial Services found that Ocwen Financial Corp. inappropriately backdated foreclosure warnings and letters that rejected mortgage loan modifications, making it nearly impossible for borrowers to appeal the company's decision. Show More Summary

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