Ocwen Financial and Ocwen Loan Servicing collectively know as Ocwen, were filed against yesterday by State Attorneys General and the Consumer Financial Protection Bureau (CFPB) and a Settlement Decree for $127.3 Million Dollars along with an additional $2 Billion Dollars occurred at the same time. Below is the Settlement Decree against them filed by each State Attorneys General of the United States. Ocwen has been mired lately in litigation and Settlement Agreements. Ocwen additionally conducts business with Altisource whom Contractors may be more familiar with.
Now, I am not too good at math; however, I would believe that Ocwen vis-a-vis Altisource is going to have to recoup that money. If I were a Contractor working for them I would damn well make sure that my Work Product was in order and well documented. For those of you whom want to understand how your grass cuts are impacted, take the time to read through the Exhibits. This will enlighten you on what is really going on far above your pay grades.
Here is the Complaint ...
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