Relevant Backlinks
Upgraded, 8:forty p.m. | The borrowed funds world had higher hopes for Ocwen Monetary. Their chairman, loans in Brookwood William C. Erbey, got several years of feel repair subprime funds and permitting financially stressed borrowers.
But The fresh new York’s greatest monetary regulator said that as the providers increased, Ocwen exposed consumers to your exact same issues since the larger banking institutions: lost paperwork, poor foreclosure and you will robo-signings.
On the Saturday, Mr. Erbey wanted to step-down because president out-of Ocwen, one of the state’s largest mortgage servicers, as a part of funds which have Benjamin Meters. Lawsky, The newest York’s superintendent regarding financial attributes.
The fresh new broad settlement capped an intense investigation from the Mr. Lawsky’s work environment towards the Ocwen’s repair techniques and corporate governance. Together with stopping their finest blog post at Ocwen, Mr.