Associates of Erbey told IMFnews that he knew several weeks ago that he would be stepping down from the company and viewed himself as a sacrificial lamb of sorts…
At First Tennessee Bank, for example, its commitments were flat from the second to the third quarter, but average outstandings increased by 13 percent to $861 million.
One analyst, Farukh Farooqi of Marquis Research, told IMFnews that Ocwen’s board should consider dumping CEO Ron Faris. “I mean where does the buck stop?” Farooqi said.