Items Tagged with 'Ocwen'

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  • Ocwen reaches mortgage servicing settlement with Connecticut

    Settlement stipulates that Ocwen will pay $500,000 fine if it doesn’t comply
    Ocwen Financial is one step closer to ridding itself of the mortgage servicing restrictions placed on the nonbank last year when 31 states took regulatory actions over alleged escrow and other servicing issues. Ocwen disclosed late Thursday in a SEC filing that it reached a servicing settlement with the state of Connecticut.
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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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  • Japan’s SoftBank completes $3.3 billion acquisition of Fortress Investment Group

    Parent company of New Residential, majority shareholder of Nationstar acquired
    SoftBank Group’s move into the U.S. financial markets took a huge step forward on Wednesday, as the Japanese technology company completed its previously announced $3.3 billion acquisition of Fortress Investment Group, a global investment giant that has a huge stake in the U.S. housing finance system.
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  • Ocwen reaches mortgage servicing settlements with two more states

    Also agrees to give company shares in class action settlement
    Ocwen Financial’s settlement streak is continuing, as the nonbank announced Wednesday that it reached settlements with two more states that will remove each state’s mortgage servicing restrictions on Ocwen’s business. Ocwen also disclosed that it finalized a class action settlement agreement over the nonbank restating its 2013 and 2014 earnings.
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  • Ocwen reaches mortgage servicing settlement with Nebraska

    Latest in string of settlements with states over servicing issues
    Ocwen Financial disclosed Monday that it settled a number of pending legal matters, but those weren’t the only settlements the nonbank announced. Ocwen also disclosed Monday that it reached a settlement with Nebraska to remove the state’s restrictions on Ocwen’s business.
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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 moves closer to profitability amid extensive business changes

    Posts net loss of $6 million in third quarter
    It’s been a rough year for Ocwen Financial, but the company’s executives said Thursday that despite the nonbank posting its 4th straight quarterly loss, they believe they have the company pointed in the right direction. Here's why Ocwen is positive about its future.
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  • Ocwen reaches mortgage servicing settlement with Hawaii

    Settlement streak reaches 22 states
    Ocwen Financial, fresh off agreeing to move its mortgage servicing operations away from its proprietary REALServicing platform to Black Knight’s LoanSphere MSP servicing system, reached another settlement with a state that brought regulatory action against the company earlier this year for servicing issues.
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  • Ocwen picks Black Knight to take over mortgage servicing operations

    Shifts away from controversial proprietary REALServicing platform
    Ocwen Financial is officially moving its mortgage servicing operations away from its proprietary REALServicing platform, which was at the center of the company’s recent regulatory troubles with more than 30 states and the Consumer Financial Protection Bureau. The winning bidder for Ocwen's servicing operations: Black Knight.
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