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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ocwen Financial Corp | NYSE:OCN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.30 | -1.09% | 27.15 | 27.94 | 26.87 | 27.94 | 28,448 | 01:00:00 |
Duff & Phelps, a global corporate valuation and financial advisory firm, was engaged by Wells Fargo Bank N.A. in its capacity as Master Servicer for 42 Ocwen-serviced Residential Mortgage Backed Securities trusts (Trusts), to investigate allegations regarding the Trusts alleged by: 1) Gibbs & Bruns’ January 23, 2015 Notice of Non-Performance on behalf of certain Institutional Investors; and 2) Ocwen’s Consent Orders with the Consumer Financial Protection Bureau and New York Department of Financial Services.
Duff & Phelps conducted a 12-month review of Ocwen’s servicing operations, accounting, loan modifications, borrower compliance, and operations and governing practices. This review involved an analysis of thousands of servicing files, data points, invoices, as well as a comprehensive review of the Company’s systems and records.
The Duff & Phelps investigation:
“We are pleased with the results of Duff & Phelps’ year-long independent review. We continue to focus on servicing loans in the best interest of loan investors and on being a leader in helping homeowners,” said Ron Faris, President and CEO of Ocwen.
About Ocwen Financial Corporation
Ocwen Financial Corporation is a financial services holding company which, through its subsidiaries, originates and services loans. We are headquartered in West Palm Beach, Florida, with offices throughout the United States and in the U.S. Virgin Islands and operations in India and the Philippines. We have been serving our customers since 1988. We may post information that is important to investors on our website (www.Ocwen.com).
FOR FURTHER INFORMATION CONTACT Media John Lovallo jlovallo@levick.com 917-612-8419 Investors Stephen Swett T: (203) 614-0141 E: shareholderrelations@ocwen.com
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