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PHH Corp Says “I Do” to Ocwen – The Marriage from Hell
Highest Paying Jobs at Ocwen Financial Corporation - Find Available Jobs | Ladders
NEW YORK, Oct 21 Reuters - Ocwen Financial Corp may have harmed hundreds of thousands of borrowers by sending backdated letters about loan modifications and foreclosures, New York state's financial regulator said on Tuesday, sparking a selloff in shares of the mortgage servicer. The company denied loan modifications in letters that borrowers received more than 30 days after they were mailed, cutting off their opportunity to appeal, according to an Oct. Borrowers facing foreclosure received letters from Ocwen with cure dates that had passed months earlier, the letter said. Such activity violated state and federal laws, Lawsky said.
If you really would rather own the property than the note, take a few lessons in fraud from Owen Financial Corp. Lawskey alleges that many of the letters were even back-dated to give the impression that they had been sent in a timely fashion. The correspondence gave borrowers 30 days from the date of the denial letter to appeal, but the borrowers received the letters after more than 30 days had passed. The issue is not a small one, either.
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