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Ocwen Not Fully Complying With Mortgage Settlement: Monitor

Law360, New York (October 23, 2015, 1:25 PM EDT) -- Ocwen Financial Corp. in the last half of 2014 failed part of its first full-portfolio compliance review following the $25 billion National Mortgage Settlement, the monitor overseeing the deal told a D.C. federal court Thursday.

The troubled mortgage servicer failed four metrics in the third and fourth quarters of 2014, monitor Joseph H. Smith Jr. said. An additional seven metrics were found to be failures due to letter-dating issues, as had been identified in an earlier report, but Smith said he has already approved a corrective...
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