judge 01State banking regulators crush Ocwen’s business with sweeping new restrictions

 

This is a housingwire.com article.

 

Mortgage business obliterated by state banking regulators.

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.

In a bombshell announcement from the North Carolina Commissioner of Banks, according to an email notification sent to HousingWire, more than 20 state mortgage regulators issued cease-and-desist orders to Ocwen.

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