Ocwen facing CFPB investigation, potential fine for servicing practices

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Ocwen facing CFPB investigation, potential fine for servicing practices

Ocwen facing CFPB investigation, potential fine for servicing practices

HousingWire-

It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureauinvestigation into its servicing practices.

That settlement, and others with the New York Department of Financial Services and the California Department of Business Oversight, are among the items that Ocwen’s executives call the “legacy issues” that Ocwen is working to move past as the nonbank charts a course forward.

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