Consumer Financial Protection Bureau Press Release
On April 20, 2017, the Consumer Financial Protection Bureau (CFPB) sued Ocwen Financial Corporation and its subsidiaries for failing borrowers at every stage of the mortgage servicing process.
DFI Statement On Action Against Ocwen
The Washington State Department of Financial Institutions (DFI) reached a settlement with Ocwen Loan Servicing, LLC in August 2016 to end its practices of using offshore unlicensed affiliate companies to perform residential mortgage loan servicing activities for Washington loans. More information is available at: http://dfi.wa.gov/news/press/ocwen-resolves-licensing-issues-dfi.
The company is currently under a consent order that can be viewed at: http://www.dfi.wa.gov/sites/default/files/consumer-services/enforcement-actions/C-16-1867-16-CO01.pdf.
Washington State consumers with questions may call DFI at 1-877-RING-DFI (877-746-4334).