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 …
The New York-based company said it had net income of 37 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 52 cents per share. The results exceeded Wall Street expectations. …
Morgan Stanley is in talks with the U.S. to resolve an investigation into the bank’s creation and sale of mortgage-backed bonds, the latest in a string of Wall Street cases tied to the 2008 financial crisis, a person familiar with the matter said.