Ocwen is refinancing $ 300 million of bonds backed by reimbursement rights to funds it has advanced on residential mortgages it services. The two new series of notes will both extend the maturity of the debt issued by the securitization trust and reduce the interest rate. Foreclosure News
Civil litigation — Complaint — Res judicata Susan Lindauer, appellant, appeals from an order, issued by the Circuit Court for Montgomery County, dismissing her complaint against appellees1 for negligence, fraud, wrongful foreclosure, breach of contract, and breach of the implied covenant of good faith and fair dealing. Lindauer raises five issues on appeal, which reduce […]
Ocwen Financial Corp.'s $ 360 million acquisition of PHH Corp. presents an opportunity for the nonbank servicer to rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market. Maintaining scale is critical for servicers and subservicers like Ocwen in […]
GLORIA CASTRELLON, Plaintiff – Appellee, v. OCWEN LOAN SERVICING, L.L.C.; DEUTSCHE BANK NATIONAL TRUST, as Trustee for Soundview Home Loan Trust, Defendants – Appellants Plaintiff-Appellee Gloria Castrellon sued Defendants-Appellants Ocwen Loan Servicing, L.L.C., and Deutsche Bank National Trust, alleging that they violated various Texas consumer protection laws during the foreclosure of her home. Foreclosure News
SGK PROPERTIES, L.L.C.; GARY P. KATZ, Plaintiffs – Appellants v. U.S. BANK NATIONAL ASSOCIATION, as Trustee for Lehman Brothers Small Balance Commercial Mortgage Pass-Through Certificates, Series 2007-3, Defendant-Counter Plaintiff – Appellee SGK PROPERTIES, L.L.C.; GARY KATZ, Plaintiffs-Appellants v. Foreclosure News
Ocwen Financial Corporation , a leading financial services holding company, today joined a group of select mortgage servicers, housing finance agencies, government-sponsored enterprises , and government officials at the Eighth Annual Hardest Hit Fund Summit to discuss strategies to leverage Hardest Hit Fund resources for the benefit of borrowers in states that are participating in […]
Families, who have assembled the necessary financial resources to apply, qualify, and then purchase a home, understandably value that key investment and its accompanying opportunity to build wealth; but buying the home is just the first step of securing the American Dream of homeownership. What many homeowners soon discover is that faithfully paying a monthly […]
The CFPB and a host of 30+ state regulators slapped Ocwen with a bevy of potentially crippling cease and desist orders. Mortgage servicing is supposed to be one of the most boring topics in the financial universe. Foreclosure News
State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company, according to interviews with nearly a dozen officials. After settling with Ocwen three years ago over issues related to loan modifications and foreclosures, regulators filed […]
Mortgage servicer Ocwan Financial has been ordered by the state of Illinois to stop making loans, which the company calls a “vast overreach.” Mortgage servicer Ocwan Financial has been ordered by the state of Illinois to stop making loans, which the company calls a “vast overreach.” Foreclosure News