Ocwen Financial

Ocwen Financial Corp. is settling allegations by Alabama and Minnesota that it engaged in improper mortgage activities, bringing the total of states it has settled with to 17.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

Ocwen Financial Corp. recorded a $44.4 million net loss in the second quarter related to its court battles and other expenditures, including costs related to its exit from correspondent lending.

Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.

Ocwen Financial Corp. agreed to settle a shareholder lawsuit for a cash payment of $49 million, plus 2.5 million shares of the company's stock.

From the Trump administration's initial efforts at reg relief and GSE reform to dramatic shifts in the servicing landscape, here's a look back at the top stories shaping the mortgage industry during the first half of 2017.

Auditors performing a review of Ocwen Financial padded time sheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.

Regulators have unfairly targeted Ocwen Financial Corp. with the goal of forcing it to sell its mortgage servicing portfolio to investors that would foreclose on troubled borrowers, claims a prominent mortgage finance analyst.

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

Ocwen Financial Corp. has received a subpoena from the Department of Housing and Urban Development Office of Inspector General regarding force-placed hazard insurance.

As Nationstar Mortgage Holdings finalizes plans to change its name to Mr. Cooper, the nonbank lender and servicer is exploring options to part ways with Xome, the settlement services and real estate business it rebranded less than two years ago.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

Ocwen Financial asked a federal judge Wednesday to dismiss a lawsuit by the Consumer Financial Protection Bureau, saying the agency is unconstitutional.

Ocwen Financial and its subsidiaries faced a slew of accusations from federal and state regulators on Thursday, which raised questions about whether the firm could survive.

The real estate investment trust has become a regular issuer, relying on a strategy of exercising "clean-up calls" on older mortgage bonds that it services.

Consolidation among large independent mortgage bankers is likely as several lack the financial wherewithal to deal with the changing environment, Moody's said.

Ocwen Financial is a step closer to the day when it can resume purchases of mortgage servicing rights.