Items Tagged with 'Ocwen Financial Corporation'


  • Ocwen posts first quarter net loss

    Company in the middle of even greater regulatory storm
    Ocwen Financial Corporation executives prepped investors at the end of last year to expect this latest loss at the start of 2017 as it continues to digest regulatory fines. But despite the predicted loss, Ocwen still managed to beat earnings expectations. The news, however, is clouded by even greater regulatory concerns that cropped up in April.
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  • Hedge fund claims Ocwen breached bond covenants

    Blue Mountain Capital reveals short position
    Hedge fund BlueMountain Capital Management sent notices of default to embattled nonbank Ocwen Financial and its affiliated company, Home Loan Servicing Solutions on Friday, saying that Ocwen’s regulatory troubles have caused an “irrefutable” default on notes the hedge fund owns.
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  • How much will Ocwen pay William Erbey to leave?

    Can't disclose any industry secrets
    William Erbey may be leaving Ocwen Financial behind after being forced to resign from his position as executive chairman as part of a massive settlement with the New York Department of Financial Services, but he is not leaving empty-handed. Far from it, in fact.
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  • Altisource CEO: We’re committed to supporting Ocwen

    Company executives preach calm to investors
    Executives from Altisource Portfolio Solutions attempted to calm the company’s investors in a call Friday, sharing their preliminary view of the fourth quarter and their plans for 2015. The company stands shaken after its chairman, William Erbey, was forced to resign as part of $150 million settlement with the New York Department of Financial Services.
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  • Lawsky’s latest target: Hard-money lenders

    NYDFS subpoenas nine companies over concerns of predatory lending
    The NYDFS said that hard-money lenders do not typically evaluate a borrower’s ability to repay and likelihood of default, and it has concerns that some lenders may “intentionally structure loans with the expectation of foreclosing on and taking possession of the property."
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  • Moody’s downgrades Ocwen’s servicer ratings

    Cites increased regulatory scrutiny and force-placed insurance concerns
    Moody's suggests that the scrutiny from the Securities and Exchange Commission and the New York Department of Financial Services "could restrict Ocwen's activities, levy monetary fines, or take additional actions that could negatively affect the company's financial strength and servicing stability."
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