Volume 2014 - Number 41
October 30, 2014
Ocwen Sets Aside $100 Million for Possible Settlement; Counterparties Cautious About Dealing With Firm
Late this week, Ocwen Financial Corp. announced that it has set aside $100 million for a possible regulatory settlement with the New York Department of Financial Services, a move that couldn’t come too soon for the troubled “high-touch” servicer. But the company also cautioned that a settlement with the NYDFS is hardly a sure thing. More-over, some Ocwen watchers believe a deal with New York could spur other state regulators to take action against the company. One consultant who has done work for Ocwen told...
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