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BRIEF-Ocwen Financial enters into agreements with 10 states to resolve regulatory actions​
September 29, 2017 / 10:21 AM / 2 months ago

BRIEF-Ocwen Financial enters into agreements with 10 states to resolve regulatory actions​

Sept 29 (Reuters) - Ocwen Financial Corp

* Ocwen Financial - ‍on September 28, 2017, Ocwen entered into agreements with 10 states to resolve regulatory actions brought by the states​

* Ocwen Financial Corp - ‍Ocwen will not acquire any new residential mortgage servicing rights until April 30, 2018​

* Says issue related to ‍regulatory actions taken against co on April 20, 2017 or shortly thereafter by mortgage and banking regulatory agencies from thirty states​

* Ocwen Financial Corp - ‍agreements entered into includes term that co will not board any new loans onto realservicing system​

* Ocwen Financial - co as per agreement will engage 3rd party auditor to perform analysis with respect to its compliance with certain federal & state laws​

* Ocwen Financial - allegations had related to various deficiencies in co’s compliance with laws and regulations relating to co’s servicing and lending activities​

* Ocwen Financial - as per agreements, ‍will provide financial condition reporting on confidential basis as part of each state’s framework for next 3 yrs​

* Ocwen Financial - ‍none of agreements contain any monetary fines or penalties, although co will incur costs complying with terms of these settlements​ Source text: (bit.ly/2xKQU26) Further company coverage:

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