CFPB secures $27.7 million judgment against foreclosure relief scammers

The next president needs to speak up about housing right now

Want my vote? Here's how to get it

CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
W S

Items Tagged with 'Ocwen'

ARTICLES

Ocwen closing residential servicing operations in Houston

Facility was company’s smallest call center in U.S.
Ben Lane
Ocwen Financial announced Wednesday that after conducting a “strategic review” of its operations, the company is shutting down its residential mortgage servicing operations at its facility in Houston. The decision to shutter the call center will affect 140 residential servicing employees, whose positions will be eliminated.
Read More

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
Trey Garrison
Rumors that Lawsky would be stepping down have been circulating since November, but today’s announcement made it official. The man lauded as an exceptional financial regulator in some quarters, and a thorn in the side of the mortgage industry in others, is now moving on.
Read More

Ocwen now in full compliance with NYSE

No longer on Late Filter list
Brena Swanson
Ocwen Financial Corporation is no longer on the NYSE naughty list. The nonbank financial servicer is now in full compliance with the New York Stock Exchange, finally putting the company in good graces after months of negative news.
Read More

Ocwen files 2014 yearly report without “going concern” qualification

CEO: This is additional evidence that shows our strategy is working
Ben Lane
After months spent on shaky ground, Ocwen Financial appears to be righting the ship. The company announced late Monday that it filed its much-delayed 2014 10-K yearly report with the Securities and Exchange Commission without a qualification about its ability to operate as a going concern.
Read More

Nationstar’s surprise 1Q loss pulls down nonbank servicers

NSM drops below 52-week low in afternoon trading
Trey Garrison
All the major nonbank mortgage servicers were bleeding in trading through early afternoon, after Nationstar Mortgage Holdings reported its first-quarter surprise loss. Here's where the red ink is spilling.
Read More

What’s the future of Ocwen?

Analysts weigh in on what’s next for the nonbank
Ben Lane
Now that the dust is beginning to settle after Ocwen Financial reported its first-quarter results, industry observers are beginning to question what’s next for the nonbank. Despite the company being back in the black, analysts hold diametrically opposed views of Ocwen’s future.
Read More

Ocwen turns profit in first quarter but CEO vows to “do better”

Reports net income of $34.4 million in first quarter
Ben Lane
Reversing a trend that saw it lose $546 million in 2014, Ocwen Financial reported net income of $34.4 million, or $0.27 per share, for the first quarter of 2015. But Ocwen President and CEO Ron Faris said the company is not satisfied and intends to "do better."
Read More

Assurant exits health insurance; focus shifts to housing

Plans expansion of lender-placed insurance and other programs
Ben Lane
Assurant is planning to exit the health insurance and employee benefits business and will shift its focus instead to its housing insurance programs, which include renters/apartment insurance, flood insurance, manufactured housing and force-placed insurance.
Read More

Ocwen, Assurant to pay $140 million to settle force-placed insurance suit

Class-action suit accused Ocwen of artificially inflating costs
Ben Lane
Ocwen Financial and Assurant agreed to pay $140 million to settle a massive class-action lawsuit, which accused Ocwen of artificially inflating the cost of force-placed insurance in exchange for kickbacks from Assurant. The settlement agreement, which is awaiting final approval from federal court in Florida, resolves claims of 399,843 homeowners who allege they were overcharged for insurance.
Read More

Freddie Mac selling $233 million pool of Ocwen-serviced loans

Non-performing loans are “deeply delinquent”
Ben Lane
Freddie Mac announced Tuesday that it is preparing to auction off a $233 million pool of non-performing loans, which are serviced by Ocwen Financial, which said in December that it plans to exit agency servicing entirely. Is Freddie Mac done with Ocwen too?
Read More