Items Tagged with 'Mortgage servicing rights'

ARTICLES

  • Ocwen settles with Maryland, but settlement carries stiffer penalties than previous states

    Fined $500,000, must provide $273,500 to borrowers, and more
    In the last several months, Ocwen reached settlements with nearly every one of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other mortgage servicing issues. Ocwen continued that settlement streak this week, reaching a settlement with Maryland, but while many of the previous settlements carried similar terms, the Maryland settlement goes even further and carries stiffer penalties.
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  • Ocwen reaches mortgage settlements with two more states, inks new deal with New Residential

    SEC filing reveals cavalcade of news about nonbank
    Ocwen disclosed Friday that it reached a settlement with two more of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other servicing issues. But that wasn’t the only interesting item that Ocwen disclosed in its latest SEC filing.
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  • Situs acquiring MountainView Financial Solutions

    Acquisition “puts Situs at the nexus of real estate and fintech”
    Situs, a premier provider of strategic business and technology solutions to the real estate industry, announced late in the week that it plans to acquire MountainView Financial Solutions.
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  • S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

    Trump administration’s changes will not undo years of heavy regulation
    Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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  • Ocwen settlement-palooza sees $36 million going out, $30 million coming back in

    Reaches settlement with CIT Bank, additional settlement on restated financials
    It’s been a year of settlements for Ocwen Financial and Monday saw more of the same. On Monday, Ocwen disclosed that it reached an additional settlement with investors related to the company’s previously restated earnings, and a settlement with CIT Bank over a 2013 mortgage servicing rights deal.
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  • Ocwen reaches mortgage servicing settlement with Texas

    Latest in string of settlement with state mortgage regulators
    Another day, another mortgage servicing settlement for Ocwen Financial. Recently, the nonbank has been on a settlement streak, reaching agreements with 20 of the 31 states that took regulatory actions against Ocwen earlier this year over alleged escrow issues and restricted Ocwen’s ability to acquire new mortgage servicing rights and originate new loans. Now, it’s Texas’ turn.
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  • Ocwen begins settling with states to remove mortgage servicing restrictions

    Consent orders reached with Illinois and Montana

    Back in April, more than 20 states clamped business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other mortgage servicing issues. Now, five months later, Ocwen is beginning to dig its way out of from under those restrictions, but the company isn’t getting away clean.


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