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Home » News » SEC Finds Faults in Ocwen’s ‘Capital Light’ Plan
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SEC Finds Faults in Ocwen’s ‘Capital Light’ Plan

October 16, 2015
A company that helped Ocwen Financial reduce the capital it needed for servicing non-agency mortgages was fined last week by the Securities and Exchange Commission. The federal regulator charged Home Loan Servicing Solutions for misstatements and inadequate internal controls. HLSS agreed to pay a $1.5 million penalty to settle the charges while not admitting to or denying the findings. The SEC noted that William Erbey, Ocwen’s former executive chairman ...
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