A day after filing emergency motions to stop two states’ cease-and-desist orders, Ocwen Financial Corp. is turning to the Constitution to defend itself in a federal regulator’s lawsuit.
On Tuesday, Ocwen disclosed it filed two emergency motions requesting immediate court action restraining cease-and-desist orders brought by Illinois and Massachusetts regulators.
The filings were in response to a barrage of state and federal regulatory actions last week against the Atlanta-based firm including state enforcement orders and two lawsuits.
Source: Mortgage Daily
