Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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Items Tagged with 'Ocwen Financial Services'

ARTICLES

Roughly 20,000 Florida homeowners go unserved

Ocwen settlement deadline approaches fast
Brena Swanson
Eligible Florida borrowers have a little over two weeks to claim their share of the giant Ocwen Financial Services settlement, with just 10,244 filed claims out of 31,036 qualified Floridians.
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FHFA Inspector General counters: Here's why nonbanks need prudent regulation

Nonbanks hold $1.4 trillion of $10 trillion market
Brena Swanson
The Federal Housing Finance Agency Office of the Inspector General suggests the FHFA establish a risk management process unique to nonbank special servicers. This is to better oversee how the GSEs control inherent risks in transferring mortgage servicing rights and performing large scale servicing operations.
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Ocwen sends mortgage settlement claim forms to 26,000 in Florida

Residents eligible for $17.8 million of total settlement of $125 million
Ben Lane
“This settlement fund provides Floridians who lost their homes to foreclosure some financial relief for mortgage servicing misconduct and foreclosure abuse,” Florida Attorney General Pam Bondi said.
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What will Ocwen do with its big pile of cash?

Ocwen to potentially venture outside of mortgage servicing
Brena Swanson
“We believe the company is close to announcing it will be expanding into another area beyond mortgage servicing, such as title insurance or other consumer servicing," Compass Point said.
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Ocwen pays Massachusetts $3.7 million to resolve foreclosure claims

$3 million goes to Massachusetts homeowners
Brena Swanson
In its latest settlement, Ocwen Financial Services agreed to pay $3.7 million to resolve claims that it failed to provide certain notices to homeowners in Massachusetts.
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Ocwen will stop using mortgage gag orders

Prevents the rare times it was used
Brena Swanson
"To clarify, Ocwen has never required non-disparagement clauses for mortgage modifications. Our agreement with the DFS deals with the highly unusual situation where there is a legal settlement agreement with a borrower," John Britti, chief investment officer at Ocwen, said.
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Ocwen Exec: We do not require "gag clauses" for modifications

Nonbank servicers remain on chopping block
Brena Swanson
Contrary to trending reports, Ocwen Financial announced it does not require “gag clauses” for modifications.
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Nonbanks expect big year for MSRs

Nationstar, Walter, Ocwen, soar on HW 30
Brena Swanson
Nonbanks are experiencing a strong day on the stock market, following positive first-quarter earning reports. MSR transfer activity is still occurring and more importantly, the long-term pipeline of opportunities is very healthy.
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Ocwen: Wells Fargo MSR deal on indefinite hold

Company promotes chief financial officer
Brena Swanson
Ocwen Financial Services’ $2.7 billion mortgage-servicing rights transaction with Wells Fargo remains on an indefinite hold, the company said on its first-quarter earnings conference call.
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Altisource stock yo-yo's after Lawsky’s callout

Ben Lane
Altisource’s stock bounced all over the map after news of New York State’s Department of Financial Services Superintendent Benjamin Lawsky's letter broke on HousingWire.
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