Items Tagged with 'Lawsky'


  • NYDFS names Lawsky’s temporary replacement

    Anthony Albanese to lead regulator on interim basis
    The New York Department of Financial Services has found its replacement for its soon-departing superintendent, Benjamin Lawsky. Lawsky himself made the announcement in a memo sent to NYDFS staffers. In the memo, Lawsky said the NYDFS will be in good hands while Gov. Andrew Cuomo searches for a permanent replacement.
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  • It's official: NYDFS Superintendent Ben Lawsky stepping down

    4 years as leader of “long reach” New York financial regulator
    Rumors that Lawsky would be stepping down have been circulating since November, but today’s announcement made it official. The man lauded as an exceptional financial regulator in some quarters, and a thorn in the side of the mortgage industry in others, is now moving on.
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  • Ocwen woes drag down Altisource

    What’s the opposite of "a rising tide lifts all boats?"
    Over the course of the last ten days, Ocwen Financial and its affiliates have taken a beating from all corners of Wall Street over a letter from the New York Department of Financial Services, which alleged that Ocwen was backdating letters to borrowers.
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  • Ocwen Financial moves from profit to loss

    Beleagured nonbank books a $100M charge for potential settlement
    Ocwen Financial missed analyst expectations by more than a dollar per share, posting a pretax loss of $75.3 million or $0.58 per share compared to a profit of $60.6 million and $0.39 one year ago as the company books a $100 million pretax charge for a potential settlement with the New York Department of Financial Services.
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  • Ocwen gets a bounce on rumors of possible settlement

    $40M to settle the backdating issue could be in the cards
    Ocwen Financial was nearly scuppered last week after the New York Department of Financial Services sent an open letter alleging it was backdating letters to borrowers, but the firm got a boost Wednesday afternoon on rumors reported initially by Bloomberg that it may settle the matter for about $40 million.
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  • Ocwen posts open letter and apology to borrowers

    Pledges independent investigation and rectification
    Ocwen Financial has taken a beating after the New York Department of Financial Services sent a letter to the company on Oct. 21 alleging that the company had been backdating letters to borrowers, and now Ocwen is reaching out to homeowners. “We apologize to all borrowers who received misdated letters," the CEO said in a lengthy letter.
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