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  • 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.

New COO at Federal Reserve Bank of Boston

The Federal Reserve Bank of Boston on Tuesday announced the appointment of Kenneth Montgomery as Chief Operating Officer, starting early next year. Montgomery will succeed Paul Connolly, who is retiring in December. In his new position, he will lead financial services and many internal support functions, such as information technology, financial management, and facilities operations. He'll also have responsibilities for the U.S. Treasury. Montgomery is currently System Chief Technology Officer at the Federal Reserve System’s information technology organization. Bank president Eric Rosengren said Montgomery is well-suited to meet the "many challenges ahead." “The broad-based knowledge, leadership, and positive energy that Ken has exhibited throughout his career in the Federal Reserve System, as well as his experience and insights into a wide array of operations and business areas, make him an excellent choice to fill this important position on the Bank’s senior management team," he said. Montgomery began his career at the Federal Reserve Bank of New York. He has been with the Federal Reserve Bank of Richmond since 1994. Sarah Mueller is an editorial assistant at HousingWire.

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