WSJ-

New York’s top financial regulator hasn’t signed off on a pair of deals that would establish the biggest processor of subprime mortgages.

Benjamin M. Lawsky, New York’s superintendent of financial services, has yet to approve Ocwen Financial Corp.’s OCN -1.40% plans to buy Homeward Residential Holdings Inc. and the mortgage-servicing unit of Residential Capital LLC—companies that, like Ocwen, collect mortgage payments and rework troubled loans for U.S. homeowners.

[WALL STREET JOURNAL]

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