N.Y. Regulator Probing Ocwen's Relationships

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N.Y. Regulator Probing Ocwen’s Relationships

N.Y. Regulator Probing Ocwen’s Relationships

Mr. Lawsky is the Real Deal!!


4- Traders-

New York’s top financial regulator is probing mortgage-servicing firm Ocwen Financial Corp.’s relationships with several business affiliates, raising concerns that borrowers may be harmed because of the companies’ close ties.

Benjamin Lawsky, the state’s superintendent of financial services, sent a letter Wednesday to Ocwen seeking information about the company’s financial interests in affiliated firms, services that the other firms provide Ocwen and agreements between the firms and other details.

The agency’s “ongoing review of Ocwen’s mortgage servicing practices has uncovered a number of potential conflicts of interest between Ocwen and other public companies with which Ocwen is closely affiliated,” Mr. Lawsky said in the letter, adding that “this tangled web of conflicts could create incentives that harm borrowers and push homeowners unduly into foreclosure.”

[4-TRADERS]

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