Shares of Ocwen sank 18.2 percent on news of Lawsky's letter, closing down $4.78 at $21.48 on the New York Stock Exchange. Such activity violated state and federal laws, Lawsky said. 21 letter from New York Financial Services superintendent Benjamin Lawsky to Ocwen.īorrowers facing foreclosure received letters from Ocwen with cure dates that had passed months earlier, the letter said. The company denied loan modifications in letters that borrowers received more than 30 days after they were mailed, cutting off their opportunity to appeal, according to an Oct.
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