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February 12, 2014

New York Regulator Targeting Nonbank Servicers Other Than Ocwen

By Brandon Ivey

New York regulator Lawsky raised concerns about the servicing cost-savings long touted by Ocwen, which are achieved via technology and employees largely located outside of the U.S.

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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