Tag Archives: Internal Review Group

Ocwen Financial has enjoyed a couple of favorable outcomes in the last week after a tumultuous 2014 and first half of 2015, with positive reports from Wells Fargo certificate holders and an independent monitor.

Monitor of the National Mortgage Settlement, Joseph A. Smith, Jr. concluded his investigation of Ocwen Financial's Internal Review Group with the determination that issues surrounding the Atlanta-based servicer's IRG have been "sufficiently addressed," according to an announcement from Smith's office.

Retesting of Ocwen Financial's compliance with the terms of the 2012 National Mortgage Settlement (NMS) for the first quarter of 2014 revealed that the Atlanta-based servicer failed one metric originally reported as a pass, but passed the other eight metrics, according to a release from the Office of Mortgage Settlement Oversight.