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Ocwen rejects allegations of poor mortgage servicing practices

Ocwen Financial Corp rejected allegations of poor mortgage servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and the trustees in January, alleging improper loan modification practices, wrongfully recouped advances, and a …

Ocwen Financial (OCN) Stock Climbing Today Following Mortgage Servicing Rights Sale

NEW YORK (TheStreet) — Shares of Ocwen Financial Corp. are climbing, higher by 3.75% to $9.96 in midday trading Monday, following the company's announcement from earlier today that it signed an agreement in principle to sell its mortgage servicing rights to non-bank residential mortgage servicer Nationstar Mortgage Holdings Inc.  . Ocwen Loan Servicing will sell its $9.8 billion portfolio of …

Mortgage approvals edge up in January for second monthly rise

British mortgage approvals edged up in January to show their second monthly increase, Bank of England data showed on Monday, a latest sign that a housing market slowdown may be starting to fade. Mortgage approvals for house purchases numbered 60,786 in January, edging up from 60,349 in December to hit the highest level since September of last year. Analysts in a Reuters poll had forecast 61,000 …

Judge rules for Wells Fargo in NY challenge over mortgage settlement

By Aruna Viswanatha and Karen Freifeld WASHINGTON/NEW YORK (Reuters) – A U.S. judge on Monday rejected allegations by the New York state attorney general that Wells Fargo was violating the $25 billion mortgage settlement that federal and state authorities reached with five banks in 2012. U.S. District Judge Rosemary Collyer described Attorney General Eric Schneiderman's allegations as “so …