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Home » Store » Inside Mortgage Finance » Ocwen Faces Transfers of Subprime Servicing, Sells Nonperforming Loans

Ocwen Faces Transfers of Subprime Servicing, Sells Nonperforming Loans

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Inside Mortgage Finance

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Ocwen Financial, the largest servicer of nonprime mortgages, continues to face regulatory and legal pressure as investors voted to terminate the company as servicer of subprime mortgage-backed securities they own. The company said its servicing of two MBS with a combined unpaid principal balance of $260 million is being transferred. The termination vote was allowed due to downgrades to Ocwen’s servicer ratings. Some 119 non-agency MBS ... [Includes one data chart]
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