Ocwen responds to National Mortgage Settlement foreclosure holds

Early Thursday morning, Joseph Smith, the monitor of the National Mortgage Settlement, announced that Ocwen Financial was not in compliance with one of the performance metrics of the National Mortgage Settlement and prohibiting the nonbank from taking foreclosure actions on more than 17,000 loans. In a lengthy response published Thursday afternoon, Ocwen responded to Smith’s office and the nature of the sanctions that Smith’s office placed on it. …read more

From:: Real Estate Wire