Ocwen Financial Corp refuted allegations of poor mortgage-servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and the trustees in January, alleging improper loan modification practices, wrongfully recouped advances, and a …
Ocwen Financial Corp has rebutted allegations that the company was responsible for poor mortgage-servicing practices and argued it should not be removed as a servicer on mortgage pools, the Wall Street Journal reported. The company, which had earlier said the allegations made by a group of large mortgage investors were false, has sent a letter to the trustees who will now decide whether to …
NEW YORK (TheStreet) — Shares of Ocwen Financial Corp. are climbing, higher by 3.75% to $9.96 in midday trading Monday, following the company's announcement from earlier today that it signed an agreement in principle to sell its mortgage servicing rights to non-bank residential mortgage servicer Nationstar Mortgage Holdings Inc. . Ocwen Loan Servicing will sell its $9.8 billion portfolio of …
Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar Mortgage Holdings Inc, as part of a strategy to …
Ocwen Financial Corp. (OCN) is under siege by mortgage-bond investors who are accusing the home-loan servicer of “imprudent and improper” practices that constitute a default.
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 …
California regulators are trying to suspend the mortgage license of Ocwen Financial Corp., saying the company failed to provide information that shows it complies with the state's laws to protect homeowners.
The state is seeking to suspend the mortgage license of Ocwen Financial Corp., saying the payment collection firm has failed to turn over documentation showing that it complies with California laws protecting homeowners.
The number of mortgage approvals for homebuyers slipped by a fifth last month compared with November 2013 as a 'sharp chill' shuddered the housing market.
The number of mortgage approvals made to home buyers slid by a fifth in November compared with the same month last year as a “sharp chill” set into the housing market, banks have reported.