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Stock Market & Financial Investment News

News Breaks
May 21, 2014
09:50 EDTNSM, ASPS, WAC, OCNLawsky says extending probe of Ocwen, other mortgage servicers
Benjamin Lawsky, Superintendent of Financial Services for the State of New York, delivered remarks yesterday at the Mortgage Bankers Association National Secondary Market Conference, during which he said the regulator has highlighted its concerns about ancillary services with "one particular non-bank servicer," most likely referring to Ocwen Financial (OCN), which the regulator has said it is probing. However, Lawsky added "they are not the only industry player doing this. So you should expect us to expand our investigation into ancillary services in the coming weeks and months," according to prepared remarks posted to the DFSNY website. Altisource Portfolio Solutions (ASPS) was previously spun-off from Ocwen. Other mortgage servicing companies include Nationstar (NSM) and Walter Investment (WAC). Reference Link
News For OCN;ASPS;NSM;WAC From The Last 14 Days
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October 2, 2015
11:26 EDTOCNNew Residential repays $2.5B of HSART term notes at par
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September 24, 2015
10:31 EDTOCNOcwen announces workforce reduction at Iowa facility
Ocwen announced that as part of an ongoing cost improvement initiative the company will reduce its workforce at its Waterloo, Iowa residential servicing facility. The decision will affect approximately 300 residential servicing employees, which is 10% of the company's approximately 2,900 U.S. employees. All impacted employees will have the opportunity to apply for employment at other Ocwen facilities, including 130 open positions at the Coppell, Texas facility. The company will also seek to lease approximately half of its 155,000 sq. foot facility in Waterloo, and it is working closely with the City of Waterloo and the Greater Cedar Valley Alliance & Chamber's office of Economic Development to source the right tenant.

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