Southeastern US financial institution
While the deal is not dead per se, the terse language Ocwen used in the announcement to shareholders strongly indicates that the plan to buy the collection rights to a portfolio containing some 180,000 mortgage loans is not likely to be revived any time soon, if at all.
Ocwen has been under intense scrutiny from federal and state regulators for some time now. The mortgage services provider is the largest subprime mortgage servicer in the US. Ocwen was previously forced to end unscrupulous mortgage signing practices to gain regulatory permission to purchase
Since 2011 the
Ocwen forgave some
Concerning the clampdown on the recnet
By midday Ocwen stock rose 3.89 percent on
Since the beginning of the year, Ocwen is down 26.62 percent.
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