Ocwen Financial

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.