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  • Ocwen facing CFPB investigation, potential fine for servicing practices

    It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureau investigation into its servicing practices. But it looks like Ocwen may not be done with the CFPB yet, as the company revealed Thursday that the bureau is currently investigating the company’s mortgage servicing practices, which could lead to a fine and/or other disciplinary action. Click the headline to read more.

Servicing The Ticker

Former Fannie Mae salesman indicted in California

A Fannie Mae salesman took kickbacks from a mortgage broker to give him foreclosed property to sell on behalf of the agency, a federal grand jury said in an indictment.

Armando Granillo, 44, of Huntington Beach, Calif., was charged Tuesday with three counts of honest services wire fraud for soliciting kickbacks while working as a sales associate for Fannie Mae, the U.S. Attorney's Office said.


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