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Violation Tracker Individual Record

Company: Option One Mortgage Corporation
Current Parent Company: Ocwen Financial
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Penalty: $28,200,000
Year: 2012
Date: April 24, 2012
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: The Securities and Exchange Commission announced that H&R Block subsidiary Option One Mortgage Corporation settled allegations that it misled investors in several offerings of subprime residential mortgage-backed securities by failing to disclose that its financial condition was significantly deteriorating.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.