New York State, which depending on who one talks to, is hailed or booed about its foreclosure prevention policies, may have already set a precedent for the future of how regulators monitor mortgage servicers.

After a state exam found indications of problems even though Ocwen was the first major mortgage servicer that agreed to abide by certain state approved mortgage servicing practices in 2012, New York State required Ocwen to hire a monitor.   

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