Walter Investment Management Corp., the third-largest non-bank mortgage servicer, has been expanding while its bigger rivals shrink amid probes from regulators.
Ocwen Financial Corp. agreed to pay $3.7 million to end a Massachusetts lawsuit claiming it didn’t give homeowners required notices and illegally foreclosed on properties, the state’s attorney general said.
On a June morning in 2012, New York bank examiners paid surprise visits to the offices of Ocwen Financial Corp., the biggest non-bank mortgage servicer.
New York’s top banking regulator asked Ocwen Financial Corp. for more information about the auction services of an affiliated firm that may be charging Ocwen customers more.
Bernie Palmatier, who lives in a Victorian home he renovated in New Carlisle, Ohio, is one of thousands of property owners with grievances against Ocwen Financial Corp.