Breaking News
  • Ocwen cleared of wrongdoing in multi-billion dollar mortgage bond fight

    Early in 2015, a group of mortgage bond investors that reportedly included BlackRock, MetLife, and Pimco accused Ocwen Financial of violating its duties as a mortgage servicer by failing to properly collect payments on $82 billion of home loans thereby costing the investors $26 billion. Now, after a yearlong independent investigation found no evidence of the litany of allegations made by the investors, Ocwen is off the hook. Click the headline for the whole story.

Lending The Ticker

Former New Jersey mortgage broker charged with bank fraud

A former Bergen County mortgage broker and ex-director and chief executive officer of Edgewater-based Mariner’s Bank was freed on $200,000 bail Wednesday after being charged by federal authorities with defrauding Washington Mutual Bank to obtain a $1.5 million loan for a client.

James Cockinos, 58, who faces as much as 30 years in prison and a fine of as much as $1 million if convicted, is accused of conspiring with an Englewood Cliffs auto dealer in spring 2007 to acquire the loan to buy a home for $1.9 million in the dealer’s wife’s name through fraudulent means.

Source: The Record
Reprints

Services Guide

Comments powered by Disqus