Mortgage Monitor Launches Investigation of Ocwen

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Mortgage Monitor Launches Investigation of Ocwen

Mortgage Monitor Launches Investigation of Ocwen

They will never get their shit in order no matter how much fraud they find and no matter how many settlements are agreed to.


National Mortgage News-

Ocwen Financial came under fire Tuesday from Joseph A. Smith, the monitor of the national mortgage settlement, after concerns of conflicts of interest were raised by an unnamed whistleblower.

Smith said in a report that he could not rely on Ocwen’s internal review process and had hired independent accounting firm McGladrey to test Ocwen’s work to ensure compliance with the national mortgage settlement.

The whistleblower alleged that an internal review group created to test Ocwen’s compliance with mortgage servicing standards was not independent. The whistleblower said the group was not properly selecting random samplings of loan files to be tested, Smith said.

[NATIONAL MORTGAGE NEWS]

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