Posted To: Pipeline Press

Fifteen days until the election! How many days would it take you, or the company that employs you, to save up $11 million? In my discussions with CEOs, they are more concerned about how the election may impact the future regulatory environment than interest rates. I mention that because Florida’s Ocwen Financial Corp. (“New Co.” spelled backward, by the way) agreed to provide more than $11 million in cash and services to settle a lawsuit by Florida’s attorney general alleging widespread misconduct by its mortgage servicing business. “It follows years of accusations from across the United States that Ocwen routinely abused its mortgage customers with, according to the attorney general’s 2017 civil complaint, illegal foreclosures, misapplied mortgage payments, failure…(read more)

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Source: Mortgage News Daily