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.
Here’s the problem facing hedge funds investing in the stock market this year, according to Goldman Sachs Group Inc. chief equity strategist David Kostin: the sand box they like to play in has gotten a lot smaller.
Brandy Hussey lost her job at a sock factory a decade ago when North Carolina’s textile companies left for China and Mexico in search of cheaper labor. Today, one of those abandoned mills houses a financial firm where Hussey is managing multimillion-dollar mortgages -- and bucking a new offshoring trend.
New York’s top bank regulator asked Ocwen Financial Corp. for information about potential conflicts of interest between the firm and its vendors as it seeks to buy $39 billion of home loans from Wells Fargo & Co. Ocwen shares tumbled 7 percent.