Items Tagged with 'Ocwen Loan Servicing'

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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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  • 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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  • Ocwen considers selling more pieces of lending business

    Discloses that it may exit reverse mortgage lending
    When 2017 began, Ocwen Financial had six mortgage origination lines of business: correspondent, wholesale, and retail in both forward and reverse mortgage lending. But the nonbank could soon only have one active lending channel, as the company disclosed this week that it is considering selling off more pieces of its lending business.
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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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