Mortgage+settlementOcwen takes Massachusetts, Illinois to court to fight mortgage restrictions

 

This is a .housingwire.com article.

 

Nonbank says that states’ restrictions will cause “significant harm” to consumers.

Last week, a raft of state regulators clamped new business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other issues at the nonbank.

Ocwen said last week that it intended to fight back against the state regulators’ accusations and business restrictions, and the company did just that on Tuesday, announcing that it is taking the regulators in Massachusetts and Illinois to court to fight for its ability to operate within the states.

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