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Volume 2014 - Number 1

January 3, 2014

State AGs Settle with Ocwen, Plan More Actions

State attorneys general and the Consumer Financial Protection Bureau reached a long-pending settlement with Ocwen Financial in December. Regulators suggest that additional actions are planned, and they have focused on the largest servicers as well as servicers involved with large transfers. As part of the settlement, Ocwen must complete $2.0 billion in principal reduction for borrowers with negative equity and refund $125.0 million to the nearly 185,000 borrowers who went through improper foreclosures from ...

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