Investors mull action against Ocwen Financial -source

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Investors mull action against Ocwen Financial – source

Investors mull action against Ocwen Financial – source

HA! Good Luck OCWEN… One name Kathy Patrick


Reuters-

A number of institutional investors including BlackRock Inc are considering the possibility of legal action against Ocwen Financial Corp over its mortgage servicing practices, a person familiar with the matter said on Tuesday.

The investors want greater transparency on how Ocwen, the country’s largest nonbank mortgage servicer, manages its mortgages, particularly loan modifications, the person said.

Richard Gillespie, a spokesman for Atlanta-based Ocwen, declined to comment about any possible action by investors. Ocwen said in a statement, “Helping people avoid foreclosure via sustainable modifications are good for our business, the investors who own the mortgages, homeowners and communities.”

[REUTERS]

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