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    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.

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German bank files $160 million MBS suit too late

watch and money

According to Law360, Germany's fourth-largest bank, DZ Bank, was a little too late under that country's statute of limitations to sue UBS AG (UBS) over $160 million worth of mortgage-backed securities it bought.

Mary Kay Vyskocil of Simpson Thacher & Bartlett LLP, who represents UBS, told Judge Marcy Friedman that under New York's borrowing statute, the statute of limitations where the party's economic injury is felt determines which jurisdiction's statute of limitations applies to the case.

Source: Law360

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