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Volume 2014 - Number 23

November 7, 2014

News Briefs

Ocwen Financial is working on a settlement with the New York Department of Financial Services regarding various servicing-related concerns raised by the state regulator. The $100 million in legal reserves that Ocwen booked in the third quarter of 2014 for a potential settlement is the minimum the company expects to spend, according to William Erbey, Ocwen’s chairman. “I would caution that this does not mean that we have settled with the [NYDFS] ... [Includes two briefs]

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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