Ocwen targeted by FTC for scrutiny
Posted By
Admin on Mar 10, 2011 7:33am PST
The Federal Trade Commission is investigating Ocwen Financial Corp., which has turned over documents relating to the company’s home loan servicing and foreclosure activities. Ocwen, which has 245 employees in its West Palm Beach office, said in its 2010 annual report that it received a “Civil Investigative Demand” from the FTC for paperwork and information regarding its practices.
The company is one of the largest home loan servicers in the country, specializing in sub-prime accounts and lauded for its work modifying mortgage payments under its own programs as well as through the federal Making Home Affordable plan.
Last year, Ocwen, which was based in West Palm Beach until January when
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