Ocwen will fight CFPB plan for homeowner relief fund

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– Today, the Consumer financial protection bureau (cfpb), authorities in 49 states, and the District of Columbia filed a proposed court order requiring the country’s largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide $2 billion in principal reduction to underwater.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x Indicate by check mark if the registrant is not required to file.

CONSUMER FINANCIAL PROTECTION BUREAU, STATE AUTHORITIES ORDER OCWEN TO PROVIDE $2 BILLION IN RELIEF TO HOMEOWNERS FOR SERVICING WRONGS Largest Nonbank Servicer Will Also Refund $125 Million to Foreclosure Victims and Adhere to Significant New homeowner protections. washington, D.C.

April 26, 2017 by Ben Lane. Just as PHH did recently, Ocwen is playing the unconstitutional card in its fight against the Consumer Financial Protection Bureau, asking the united states district court for the Southern District of Florida to declare the CFPB unconstitutional and toss out the CFPB’s lawsuit against the company.

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The CFPB, authorities in 49 states, and the District of Columbia filed a proposed court order requiring the country’s largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide $2 billion in principal reduction to underwater borrowers.

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Woman Takes Mortgage Company To Court; Wins $400,000 At Trial You had one job, Ocwen, and you couldn’t even do that! Mortgage servicer Ocwen is being sued by the Consumer Financial Protection Bureau (CFPB) for "failing borrowers at every stage of the mortgage servicing process.". The lawsuit alleges that Ocwen’s "widespread errors, shortcuts, and runarounds cost some borrowers money and others their home."

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x Indicate by check mark if the registrant is not required to file.