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Volume 2014 - Number 37

October 2, 2014

Nonbank ‘Working Group’ Represents Substantial Market Share, Wants Voice on Key Regulatory Issues

Several large nonbank lenders have banded together to form what they call a “working group” to address key regulatory issues that they say are stifling their growth and future prospects for success in a rapidly changing mortgage industry. The group’s members – including Ocwen Financial – will initially strive to educate and inform regulators about nonbanks, but will not lobby Congress. Members of the group stress that the nonbank collective is not a trade organization and does not seek that status. For now, Ocwen is...

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