$2.7B Ocwen-Wells Fargo Deal Halted Indefinitely

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago $2.7B Ocwen-Wells Fargo Deal Halted Indefinitely About Author: Colin Robins Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Ocwen Financial Corporation announced Thursday that plans to purchase the mortgage servicing rights of a portfolio worth $39 billion from Wells Fargo Bank have been halted by the  New York Department of Financial Services (NY DFS).The Wall Street Journal reports the deal was halted under allegations of abusive behavior towards homeowners, and the office of Benjamin Lawsky, superintendent of the New York regulator, has been investigating Ocwen since December 2012 over the alleged abuse, said a person familiar with the matter. The Atlanta-based business serves as a financial services holding company.In the press release, Ocwen said it “will continue to work closely with the NY DFS to resolve its concerns about Ocwen’s servicing portfolio growth.”The transaction has been halted indefinitely, and any timeline for the completion of the deal remains undecided.The NY DFS declined to comment. Related Articles Federal Department mortgage servicing rights Ocwen Wells Fargo 2014-02-07 Colin Robins Demand Propels Home Prices Upward 2 days ago February 7, 2014 764 Views Share Save Subscribe Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily center_img Tagged with: Federal Department mortgage servicing rights Ocwen Wells Fargo Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News, Secondary Market Home / Daily Dose / $2.7B Ocwen-Wells Fargo Deal Halted Indefinitely Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: NAHB Leading Market Index Edges Higher in February Next: What’s Keeping Borrowers from Refinancing? Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more