Ocwen-exposed RMBS holders can't catch a break
Performance shocks could be on the way for agency RMBS and servicer advance securitizations exposed to Ocwen Financial, following an investigation in California which could result in the offloading of Ocwen’s entire California servicing portfolio.
It was reported on Monday that Ocwen had not complied with a California Department of Business Oversight subpoena of information related to potential servicing and foreclosure abuses in the state, which could result in the suspension of Ocwen’s state mortgage licence.Without a licence, Ocwen would have to sell ...
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