Violation Tracker Individual Record

Company: 
Ocwen Loan Servicing, LLC
Current Parent Company: 
Ocwen Financial
Penalty: 
$225,000,000
Year: 
2017
Date: 
February 17, 2017
Offense Group: 
financial offenses
Primary Offense: 
mortgage abuses
Secondary Offense: 
consumer protection violation
Violation Description: 

Ocwen agreed to provide $198 million in debt forgiveness and pay $27 million in restitution, costs and penalties in settlement of allegations it violated multiple state and federal laws concerning mortgage lending and protecting homeowners from foreclosure while lacking proper procedures to implement compliance with regulations.

Level of Government: 
state
Action Type: 
agency action
Agency: 
California Department of Business Oversight
Civil or Criminal Case: 
civil
Facility State: 
California
HQ Country of Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.