Texas orders Ocwen to stop acquiring new mortgage servicing rights

The Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corporation to cease and desist, adding its name to a growing list of states and regulators coming after the mortgage servicer over alleged violations of state and federal law.

According to the order, as first reported by Kristen Mosbrucker with the San Antonio Business Journal, “The Savings and Mortgage Lending Commissioner having determined Ocwen Loan Servicing, LLC, has engaged in, or is engaging in, or is about to engage in, acts or practices constitution violations of state and federal law and applicable regulations, hereby issues the following finding of facts and order to cease and desist.”

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