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Tag Archives: California Department of Business Oversight

Ocwen Files New Fraud Claims Against FIS

The servicing company has filed an amended complaint against Fidelity Information Services and its parent company for alleged malpractices when it audited the firm. Here are the details of its petition.

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California Agency Seeks to Suspend Servicer’s Mortgage License

Losing California would be a big blow to Ocwen, which serviced more than 378,000 home loans in the state valued at $95 billion unpaid principal balance as of Q3 2014, according to MarketWatch. Shares for the company plummeted in early trading Tuesday, falling off by more than 33 percent before ticking back up slightly. With the latest news, Ocwen is off to a less than promising start to 2015 after concluding what was a rocky 2014

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Ocwen to Pay $2.1 Billion to 49 States

HELOC

The California Department of Business Oversight, along with 48 other states, reached a settlement with Ocwen Financial Corporation and Ocwen Loan Servicing, according to a press release issued by the department. The $2.1 billion settlement was in response to violations regarding mortgage servicing laws.

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