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.