Right as Ocwen Financial fixed previous compliance failures, the servicer is hit with two new compliance failures, according to the latest oversight report on Ocwen from the office of Joseph Smith, who is the monitor of the National Mortgage Settlement.
In the last report from the NMS, Ocwen failed to be back in compliance with one of the performance metrics of the National Mortgage Settlement that it failed in the second half of 2014. And because of those issues, Ocwen had to place 17,300 loans that “could have been affected” by this issue on foreclosure hold.
These issues are now resolved, according to the latest report.
Smith’s office permitted Ocwen to lift the foreclosure sale hold in July 2016 after it mailed corrected loan modification denial notices to affected borrowers and provided a sufficient timeframe for the borrower to appeal the denial.
For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.
Feel free to connect with us . . .
332 S Michigan Avenue
Suite 1032 #F513
Chicago IL 60604-4434
Legal Information Is Not Legal Advice: This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Fraud Stoppers is NOT a law firm, non-profit organization, or government agency. Register for your Free Mortgage Fraud Analysis and Securitization Search, and get Free Foreclosure Defense Help and Free Foreclosure Defense Documents that you can use to stop a foreclosure and save your house.