This is a housingwire.com article.
Ocwen Financial announced late Friday that it reached a $223 million settlement with the California Department of Business Oversight, ridding itself of the restrictions that hampered its mortgage business in California for more than two years.
The settlement includes a cash payment of $25 million. As part of the settlement, Ocwen is also required to provide an additional $198 million in debt forgiveness through loan modifications to existing California borrowers over a three-year period.
PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”