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Ocwen Financial Corp

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  • Ocwen exec to resign in New York settlement: Report Monday, 22 Dec 2014 | 6:57 AM ET

    Ocwen Financial's executive chairman will step down as part of a settlement with New York's financial regulator, the Wall Street Journal reported.

  • Dec 22- Ocwen Financial Corp's executive chairman, William Erbey, will step down as part of a legal settlement with New York's financial regulator, the Wall Street Journal reported, citing people familiar with the matter. In October, Ocwen said it set aside $100 million for a potential settlement with the New York banking regulator. Ocwen will also pay $150...

  • Dec 18- Ocwen Financial Corp is facing scrutiny from New York state and the federal government over whether the mortgage servicer improperly stalled short sales of property to collect more fees, Bloomberg reported, citing sources. The New York Department of Financial Services and the U.S. Consumer Financial Protection Bureau are looking into whether Ocwen...

  • WASHINGTON, Dec 16- Ocwen Financial Corp's mortgage servicing operations were criticized on Tuesday by a watchdog who questioned the independence of an internal audit group, adding to previous concerns from regulators. Ocwen is subject to the watchdog's oversight because it had acquired mortgage servicing rights from a unit of Ally Financial Inc. That...

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  • NEW YORK, Nov 6- Walter Investment Corp, one of the largest U.S. companies that collect home loan payments, said on Thursday that several state regulatory agencies were investigating its business practices, and its shares fell by over 20 percent. The company had met with the working group during the second quarter to discuss "concerns about various loan servicing...

  • Oct 30- Ocwen Financial Corp swung to a quarterly loss as the mortgage servicer set aside $100 million for a potential settlement with the New York Department of Financial Services over allegations of backdated foreclosure letters. "We work very hard to keep borrowers in their homes and that is why we take the concerns raised by the New York Department of...

  • Mortgage servicer Ocwen posts loss due to legal costs Thursday, 30 Oct 2014 | 7:55 AM ET

    Oct 30- Ocwen Financial Corp swung to a quarterly loss as the mortgage servicer set aside $100 million for a potential settlement with the New York Department of Financial Services over allegations of backdated foreclosure letters. Net loss attributable to common shareholders was $76.2 million, or 58 cents per share, in the third quarter ended Sept. 30,...

  • Oct 24- Ocwen Financial Corp said it was hiring an independent firm to investigate how the mortgage servicer had sent backdated letters to borrowers about loan modifications and foreclosures and the reason for the delay in fixing the issue. Hundreds of thousands of borrowers facing foreclosure may have been harmed after they received letters from Ocwen...

  • NEW YORK, Oct 21- Ocwen Financial Corp may have harmed hundreds of thousands of borrowers by sending backdated letters about loan modifications and foreclosures, New York state's financial regulator said on Tuesday, sparking a selloff in shares of the mortgage servicer. The company denied loan modifications in letters that borrowers received more than 30...

  • NEW YORK, Oct 21- Shares of Ocwen Financial Corp tumbled on Tuesday after New York's financial regulator said the company, one of the largest U.S. collectors of mortgage payments, may have harmed hundreds of thousands of borrowers by sending letters about loan modifications and foreclosures that were dated months earlier. The company, which has been under...

  • Ocwen allegedly backdated thousands of letters: NY Tuesday, 21 Oct 2014 | 1:12 PM ET
    Benjamin Lawsky, superintendent of the New York State Department of Financial Services, is shown in New York.

    Ocwen Financial allegedly backdated thousands of time-sensitive letters to mortgage clients and did not take action to fix the issue despite repeated notices of concern.

  • Midday movers: FedEx, KB Home, Waters & more Tuesday, 21 Oct 2014 | 1:09 PM ET

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  • NEW YORK, Oct 21- Ocwen Financial Corp, one of the largest U.S. companies that collects mortgage payments, may have harmed hundreds of thousands of borrowers by sending them letters about loan modifications and foreclosures that were dated months earlier, New York's financial regulator said on Tuesday. The company, which has been under scrutiny by New York's...

  • BRASILIA/ SAO PAULO, Sept 19- Brazil's financial markets have rallied on the prospect of environmentalist Marina Silva unseating President Dilma Rousseff in next month's election, but political donations show plenty of companies may be wary of a new administration.

  • Midday movers: Family Dollar Stores, Target & More Tuesday, 5 Aug 2014 | 1:05 PM ET
    Traders on the floor of the New York Stock Exchange.

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