Citing numerous issues with consumer escrow accounts and a “deficient financial condition,” a consortium of state banking regulators just put Ocwen Financial’s mortgage business on life support. A bombshell announcement from the North Carolina Commissioner of Banks claims that more than 20 state mortgage regulators issued cease-and-desist orders to Ocwen, which prohibits the acquisition of new mortgage servicing rights and the origination of mortgages. Click the headline to read more. …read more
From:: Real Estate Wire