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Ocwen responds to National Mortgage Settlement foreclosure holds
Apr 28, 2016Early Thursday morning, Joseph Smith, the monitor of the National Mortgage Settlement, announced that Ocwen Financial was not in compliance with one of the performance metrics of the National Mortgage Settlement and prohibited the nonbank from taking foreclosure actions on more than 17,000 loans. In a lengthy reply, Ocwen responded to Smith’s office and the nature of the sanctions that Smith’s office placed on it.
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