Items Tagged with 'Ocwen Loan Servicing LLC'

ARTICLES

  • Ocwen stock eviscerated by threat of California license suspension

    Beleaguered company says it’s cooperating with California
    To say that Ocwen Financial took a beating on Wall Street Tuesday would be the understatement of the century. The company suffered a loss of more than $550 million in value after news that the state of California was seeking to suspend its mortgage license.
    Read More
  • Fitch: Rise of nonbank servicers threatens private-label RMBS

    Top five nonbank servicers now handle 64% of all private-label securities
    The rise of nonbanks presents heightened risks to investors, Fitch Ratings said in a new report. “In contrast to large commercial bank servicers, most nonbank servicers, including most of the current top five, have a weaker financial profile and are currently rated non-investment grade or are not publicly rated by Fitch.”
    Read More
  • 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."
    Read More
  • Ocwen Touts Drop in Subprime Delinquencies

    Subprime servicing giant Ocwen Financial Corp. [stock OCN][/stock] took the unusual step of launching a press offensive Thursday, touting a recent drop in subprime delinquencies among the loans it services. The company's portfolio covers a significant portion of the subprime market -- through its subsidiary, Ocwen Loan Servicing, LLC, the company services approximately 350,000 mortgages, about 85 percent of which are subprime.
    Read More
  • Ocwen Donates $200K to Foreclosure Prevention

    The Homeownership Preservation Foundation said Tuesday that it had received $200,000 from Ocwen Loan Servicing, LLC to help the foundation's efforts in preventing foreclosure. HPF operates one of the nation's largest national consumer hotlines for troubled borrowers at 888-995-HOPE, and online at http://www.995hope.org/. "Ocwen is proud to support the efforts of the Homeownership Preservation Foundation," said Bill Rinehart, vice president and chief risk officer for Ocwen Loan Servicing. "The foundation is making a real difference in helping thousands of people stay in their homes, many of those Ocwen customers."
    Read More