LexisNexis® Legal Newsroom
$2 Billion Settlement by Mortgage Servicing Giant Ocwen Financial

Mortgage servicing giant Ocwen Financial Services has reached a national settlement over alleged improprieties by the company and its subsidiaries related to mortgage servicing and foreclosure practices. The settlement, following a joint investigation by the Consumer Financial Protection Bureau, state...

The ‘B’ Word is #5 in Financial Fraud Law for the Year

Consider these recent financial fraud-related settlements: - SAC Capital Pleads Guilty to Insider Trading and Will Pay $1.8 Billion; - Johnson & Johnson to Pay More than $2.2 Billion to Resolve Criminal and Civil Investigations; - Rabobank Admits Wrongdoing in Libor Investigation, Agrees...

The Rise of the States: #4 in Financial Fraud Law’s Top 10

When it comes to financial fraud law, a great deal of interest typically is focused on what the federal government does. But the Financial Fraud Law Blog and the authors of articles in the Financial Fraud Law Report also recognize the importance of state prosecutors and regulators in this area. Indeed...

New York Puts ‘Indefinite Hold’ on Ocwen Financial’s Purchase of Mortgage Servicing Rights from Wells Fargo

The New York Department of Financial Services (“DFS”) has put an indefinite hold on Ocwen Financial Corporation’s agreement to purchase from Wells Fargo Bank, N.A., mortgage servicing rights on a portfolio consisting of approximately 184,000 loans with a total principal balance of ...