September 29, 2017 / 10:21 AM / a year 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: ( Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below