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karen-freifeld

Exclusive: Big mortgage investors take first step toward suing Ocwen

By Karen Freifeld NEW YORK (Reuters) – Major mortgage bond investors including BlackRock , MetLife and Pimco on Friday took a first step toward suing Ocwen Financial Corp , accusing it of having failed to properly collect payments on $82 billion of home loans, according to a person familiar with the matter and to documents seen by Reuters. The group sent a formal notice of non-performance to …

Ocwen settles California mortgage compliance dispute for $2.5 million

Ocwen Financial Corp. will pay $2.5 million and hire outside accountants to settle a dispute with California, which had threatened to suspend the license of the mortgage payment collector and foreclosure specialist.