Tripp Levy PLLC announced on Monday that the deadline for investors to pursue their claim against Ocwen in the class action lawsuit is approaching. These investors seek to recover compensation damages caused by Ocwen’s violations of the Securities Exchange Act, and those that purchased shares of Ocwen during the period between May 11, 2015 and April 19, 2017 are encouraged to contact the firm soon.
Read More »CFPB: Servicers Fail to Protect Borrowers
Through its supervisory activities, the Consumer Financial Protection Bureau has determined that some mortgage servicers are failing to provide adequate legal protection to struggling borrowers and have therefore violated the law. According to the Bureau’s Supervisory Highlights report released on Wednesday, CFPB examiners also found that some servicers mishandled escrow accounts, kept borrowers in the dark about their potential foreclosure prevention options, prematurely entered the foreclosure process, and sent incomplete bills and statements.
Read More »Ocwen Moves to Expedite CFPB Ruling
Ocwen has filed three motions against the CFPB in hopes of speeding up a Circuit Court of Appeals decision on the Bureau's constitutionality. The motions arrive on the back of a recent suit filed by the CFPB against Ocwen on April 21. The suit alleged Ocwen committed errors throughout the servicing process and improperly foreclosed on at least 1,000 homeowners.
Read More »Ocwen Appoints Independent Member on its Board of Directors
The company has also increased the size of the Board from eight members to nine after the appointment of the newest Board member. Ronald J. Korn, a Director at Ocwen, has informed the Board that he will retire from the Director position this May. Upon Korn’s resignation, the size of the Board will be reduced from nine members to eight.
Read More »Ocwen Partners with NID and NAACP, Releases Year-end Data
The servicer is working to counsel Los Angeles homeowners on loss-mitigation opportunities, and releases their Q4 2016 financial results.
Read More »Ocwen Agrees to Settle Compliance Suits
The cases revolve around accusations stemming from 2012 that Ocwen lied to the FHA about its compliance with HAMP rules, as well as FHA insurance programs.
Read More »Ocwen Receives Mixed Review from Monitor
An independent monitor for the National Mortgage Settlement reported that Ocwen has fulfilled its consumer relief obligation under the NMS. But the news wasn't all good.
Read More »Is There any Silver Lining to be Found in Ocwen’s 2015 Earnings Report?
With the regulatory turbulence of 2014 largely behind them, Ocwen still had a tough year financially in 2015.
Read More »SEC Approves Ocwen Settlement Over Financial Misstatements
The U.S. Securities and Exchange Commission (SEC) has approved a settlement with Ocwen Financial Corp. for $2 million to resolve claims that the mortgage servicer misstated its financial results, according to an announcement from the SEC.
Read More »Ocwen Finally Sees Some Relief as Complaints Fall
Ocwen Financial's mortgage servicing practices have been the center of much scrutiny among its customers but new data shows that this picture is slowly but surely changing.
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