Items Tagged with 'India'


  • Washington hits Ocwen with fine for using unlicensed offshore companies

    Ocwen to pay $900,000; only use licensed entities to service Washington loans
    Ocwen Financial will pay $900,000 to the state of Washington after an investigation conducted by the state found that Ocwen used unlicensed companies in India and the Philippines to service mortgages, the state’s financial regulator announced Thursday. Here are the details.
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  • Calling India (or China or Ireland) for a Home Loan

    When we look into the future of mortgage lending, there are a few things that are now coming into sharp focus. First, all of the transaction data belongs to the government (in the interest of investor safety, of course). Second, the fewer intermediaries there are in the transaction, the happier the government will be (brokers, find another line of work). Third, technology will play a key role in everything because now it's all about shielding internal parties from potential co-conspirators and siphoning off information for regulator review. Compliance is everything.
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  • MortgageFlex Partners with Data Servicer Infosys

    Bangalore, India-based business process outsourcing firm Infosys BPO entered into an alliance with Jacksonville, Fla.-based MortgageFlex Systems to provide support for Making Home Affordable Modification Program (HAMP) and other alternative mortgage modification programs, the two companies announced. Infosys BPO will provide data hosting to MortgageFlex for its document reviews, payment plan creation, underwriting modifications and closing services.
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  • Bollywood High-Roller Admits Mortgage Fraud

    To read newspaper accounts of the man, Vijay Taneja was somewhat of a local celebrity in northern Virginia -- "an icon in the local Indian community," as the Washington Post reported it, and a man who invested heavily in Bollywood movie productions, India's flush entertainment industry.
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