Pointers for Customers Regarding Ocwen – Monetary Regulation
Condition mortgage bodies make regulatory assessments to make sure that companies particularly Ocwen was performing in accordance with federal and state legislation. Part of one analysis assessment their capacity to precisely process home loan costs. In the event the a friends will not techniques an excellent borrower’s money correctly some thing particularly taxes and insurance may well not receive money promptly.
A committee of county mortgage authorities keeps agreed to address issues with Ocwen inside the a collaborative and you can coordinated styles. The brand new Maryland Commissioner from Financial Regulation (the fresh new Commissioner) took part in a multiple-county examination of Ocwen so you’re able to determine Ocwen’s conformity which have relevant federal and state laws, and view Ocwen’s economic condition and you will management’s handle and you may oversight of the licensed financial maintenance operations. The newest Administrator alleges one the Ocwen’s measures is from inside the citation regarding Maryland laws and you will regulations.
Many finance treated because of the servicers are owned by 3rd-party investors
NOTE: The latest Commissioner’s order is a summary order and you can a hearing will become stored to select the merits of Commissioner’s claims.